China Online Video Company Tudou.com Prepares for IPO
Tudou.com hopes to raise about $143 million later this week.
Tudou Holdings Ltd., a Chinese online video company, said it intends to offer 6 million American Depositary Shares for $28-$30 each on Nasdaq in its initial public offering.
According to a filing with the U.S. Securities and Exchange Commission, Tudou will offer 5.57 ADSs, while a shareholder will offer 430,000 ADSs.
Tudou expects to receive about $143.5 million from the IPO. It will use about $60 million to fund its content procurement and in-house content production, while about $30 million will be used to expand its Internet bandwidth capacity.
Credit Suisse, Deutsche Bank Securities and Oppenheimer & Co will underwrite the IPO.
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