Tudou Holdings, China's most popular user-generated video website with over 90 million registered users, announced terms for its IPO on Wednesday. The company had approximately 200 million unique visitors to its Tudou.com website in the month of May 2011 alone and has seen an average of 47,000 new video clips uploaded daily in the first six months of 2011. The Shanghai, China-based firm plans to raise $174 million by offering 6 million ADSs at a price range of $28 to $30 and has a proposed market value of $867 million. Tudou, which was founded in 2004 and booked $51 million in sales for the 12 months ended March 31, 2011, plans to list on the NASDAQ under the symbol TUDO and is following the footsteps of China's Youku.com (YOKU), which went public in December 2010 and has been well received by investors, having generated a 160% return since its IPO. Credit Suisse and Deutsche Bank Securities are the lead underwriters on the deal, which is expected to price during the week of August 15.
