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Tudou subscribed multiple times
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CNTV, August 18, 2011
China's second largest online video website is expected to list on the Nasdaq on Wednesday. Tudou has sold six million American depositary shares so far.
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Photo provided by Nasdaq shows Gary Wang (L), CEO of Tudou, China's second-largest online video site Tudou Holdings Ltd., attending a ceremony at Nasdaq, New York, Aug. 17, 2011. Tudou on Wednesday issued shares on Nasdaq Stock Market, just one week after the markets underwent a huge turbulence following the downgrade of U.S. credit rating. |
Tudou priced its American depositary receipts at 29 US Dollar a share, the midpoint of its expected range, raising over 170 million US dollars. The firm's IPO plan stalled last year due to a lawsuit, and after Tudou reapplied to be listed on the Nasdaq, its offering was subscribed multiple times.
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Photo provided by Nasdaq shows Gary Wang (L Front), CEO of Tudou, China's second-largest online video site Tudou Holdings Ltd., attending a ceremony at Nasdaq, New York, Aug. 17, 2011. Tudou on Wednesday issued shares on Nasdaq Stock Market, just one week after the markets underwent a huge turbulence following the downgrade of U.S. credit rating. |
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