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

Comment

Shutterstock photo

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


More from Renaissance Capital

Subscribe






Renaissance Capital
Contributor:

Renaissance Capital

IPOs
Follow on:

Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com