Financing sells ADSs through Deutsche Bank, Piper Jaffray, Oppenheimer
By Devika Patel
Knoxville, Tenn., Nov. 22 - 500.com Ltd. said it priced its $75.22 million initial public offering of American Depositary Shares with an $11.28 million greenshoe.
The company will sell 5,786,000 American Depositary Shares at $13.00 per ADS. Each ADS converts to 10 ordinary shares.
Deutsche Bank Securities Inc. is the sole bookrunner.
Based in Shenzhen, China, 500.com is an online sports lottery service provider in China. It expects the shares to trade on the NYSE exchange under the symbol "WBAI."
| Issuer: | 500.com Ltd.
|
| Issue: | American Depositary Shares convertible into ordinary stock
|
| Amount: | $75,218,000
|
| Greenshoe: | $11,282,700
|
| ADS: | 5,786,000
|
| Price: | $13.00
|
| Warrants: | No
|
| Bookrunners: | Deutsche Bank Securities Inc.
|
| Co-managers: | Piper Jaffray & Co. and Oppenheimer & Co. Inc.
|
| Pricing date: | Nov. 22
|
| Stock exchange: | NYSE: WBAI
|
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