Youku raises USD 203 mln in IPO, share price soars

News Broadband China 9 DEC 2010
Youku raises USD 203 mln in IPO, share price soars
Chinese online video service Youku has raised a gross USD 202.85 million in its initial public offering of shares on the New York Stock Exchange. The company's American Depositary Shares began trading on 8 December on the NYSE under the ticker symbol YOKU. The group sold almost 16 million ADS at USD 12.80 each, and the stock price rose over 160 percent on the first day of trading to close at USD 33.44. Youku offers a combination of licensed professional content, user-generated content and self-produced web video content. According to iResearch, Youku attracts approximately 203 million monthly unique visitors from homes and offices and 61 million monthly unique visitors from internet cafes, and has a 40 percent share of total user time spent viewing online videos among Chinese internet users.

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Internet

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China

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Shareholders & subsidiaries, Portals / social media, Financial funding

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