Company sells shares to investors Alibaba Group and Yunfeng Capital
By Toni Weeks
San Luis Obispo, Calif., April 28 - Youku Tudou Inc. said it will conduct a $1.22 billion private placement of shares with investors Alibaba Group Holding Ltd. and Yunfeng Capital.
The company will sell 707,250,807 newly issued class A ordinary shares and 13,869,990 existing shares at $1.6944 apiece.
The per-share price corresponds to a price of $30.50 per American Depositary Share of the company, each one representing 18 class A ordinary shares. The ADS price is a 26.35% premium to the closing ADS price of $24.14 on April 25.
Beijing-based Youku Tudou is an internet television company in China.
| Issuer: | Youku Tudou Inc.
|
| Issue: | Class A ordinary shares
|
| Amount: | $1,221,867,078
|
| Price: | $1.6944
|
| Shares: | 721,120,797
|
| Warrants: | No
|
| Investors: | Alibaba Group Holding Ltd. and Yunfeng Capital
|
| Pricing date: | April 28
|
| Stock symbol: | NYSE: YOKU
|
| Stock price: | $24.14 (per ADS) at close April 25
|
| Market capitalization: | $4.21 billion
|
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