China's Tudou's IPO fully subscribed

Updated: 2011-08-15 14:52


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An initial public offering by China's Tudou, which is looking to raise $180 million on the Nasdaq, was multiple times subscribed, IFR reported on Monday.

Tudou, China's second largest online video website, saw its IPO plans stalled last year due to a lawsuit brought on by the firm's chief executive's former wife.

The offering was multiple times covered and orders came from a good mix of hedge funds and long-only investors in both the United States and Asia, two sources told IFR, a Thomson Reuters publication.

Tudou intends to offer 6 million American Depositary Shares for $28-$30 each in its Nasdaq IPO.

Pricing is slated for Aug 16. Credit Suisse, Oppenheimer & Co and Deutsche Bank Securities are the underwriters for the deal.