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Dangdang and Youku boost IPO prices
By Feng Jianmin |
December 8, 2010, Wednesday
|
Online Edition
Online Edition
CHINA'S Dangdang and Youku.com both had their shares priced above indicative ranges in United States initial public offerings thanks to strong demand among investors on Chinese internet companies.
China's e-commerce company Dangdang sold 17 million shares on the New York Exchange at US$16 each, higher than its previous offering range between US$11 to $13. It raised US$272 million, 33 percent more than originally planned.
Youku.com, China's top online video website, announced it sold its shares at US$12.8 apiece, higher than an original range between US$9 to US$11. It raised US$203 million after previously planning to seek US$154 million.
Dangdang, which operates the dangdang.com website, increased sales by 56 percent in the first nine months of 2010 from the same period a year ago, according to its prospectus.
Last year, Youku made a loss of US$26.7 million on sales of US$22.5 million, according to the company.
Youku's competitor Ku6 Media Co dropped 10.4 percent to US$6.40 yesterday.
China's e-commerce company Dangdang sold 17 million shares on the New York Exchange at US$16 each, higher than its previous offering range between US$11 to $13. It raised US$272 million, 33 percent more than originally planned.
Youku.com, China's top online video website, announced it sold its shares at US$12.8 apiece, higher than an original range between US$9 to US$11. It raised US$203 million after previously planning to seek US$154 million.
Dangdang, which operates the dangdang.com website, increased sales by 56 percent in the first nine months of 2010 from the same period a year ago, according to its prospectus.
Last year, Youku made a loss of US$26.7 million on sales of US$22.5 million, according to the company.
Youku's competitor Ku6 Media Co dropped 10.4 percent to US$6.40 yesterday.
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