Youku Prices Follow-on Public Offering of Its ADSs

Wireless News
05-25-2011
Youku Prices Follow-on Public Offering of Its ADSs
Type: News

Youku.com Inc., an Internet television company in China ("Youku"), has announced that its follow-on public offering of 12,310,000 American depositary shares ("ADSs") by the Company and certain of its pre-IPO investors was priced at $48.18 per ADS.

Each ADS represents 18 Class A ordinary shares of the Company. In connection with this offering, the Company reported that the underwriters have been granted the option to purchase up to an aggregate of 1,800,000 additional ADSs from certain selling shareholders at the public offering price less underwriting discounts.
Youku said that it will not receive any proceeds from the sale of the ADSs by the selling shareholders. The gross proceeds to the Company will be approximately US$400 million. Goldman Sachs (Asia) L.L.C. acted as the sole bookrunner, and Allen & Company, Barclays Capital Inc., Piper Jaffray & Co. and Pacific Crest Securities acted as co-managers for the offering.

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