YY prices IPO at $10.50, raises $82 million in first Chinese ADR since March


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YY Inc., a Chinese social platform that enables communication via voice, text and video, raised $82 million by offering 7.8 million ADSs at $10.50, the low end of the range of $10.50 to $12.50. YY Inc. plans to list on the NASDAQ under the symbol YY. Morgan Stanley, Deutsche Bank and Citi acted as lead managers on the deal, which is the first Chinese ADR since Vipshop ( VIPS ) went public in March.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines , IPOs
More Headlines for: VIPS , YY

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