Youku.com IPO Debuts (YOKU)
Youku.com Inc. (NYSE: YOKU) is set to debut in an IPO today. This initial public offering is set at 15,847,700 American Depositary Shares at $12.80 per share. For those who do not know this one, Youku.com probably sounds a lot…
Youku.com Inc. (NYSE: YOKU) is set to debut in an IPO today. This initial public offering is set at 15,847,700 American Depositary Shares at $12.80 per share. For those who do not know this one, Youku.com probably sounds a lot like a Google subsidiary that bought for video… YouTube. And this one is in China.
The company description is that it is a leading Chinese internet television company, and it’s mission is “to become the primary source of video content for Chinese internet users across all Internet-enabled devices.”
Goldman Sachs was the sole global coordinator and sole bookrunner; Allen & Company, Piper Jaffray, and Pacific Crest Securities are co-managers for the offering. Youku granted the underwriters an option to purchase up to an additional 2,377,155 ADSs at the initial public offering price to cover overallotments.
The pricing here is deemed a very strong pricing after the market has risen and after so many Chinese IPOs have done so well. The initial price talk was $9.00 to $11.00. Each ADS represents 18 Class A ordinary shares of the company.
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JON C. OGG
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Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
