Following a rough week for IPOs, Tudou is the only deal scheduled to price this week as the IPO market enters its seasonal slowdown in late August. One of China's two leading online video websites, Tudou.com enables its users to watch, upload, rate, comment on and recommend mostly user-generated online video clips. Since launching in 2005, Tudou has built up a massive user base that now covers more than 40% of China's Internet population.
Read more about Tudou's business, risks and outlook.
The company has filed to raise $174 million in its IPO by offering 6 million ADSs (7% insider) at a price range of $28 to $30; at the proposed midpoint, it would command a market value of $867 million. Tudou intends to price on Tuesday after the market close and list on the NASDAQ on Wednesday under the ticker symbol TUDO. Credit Suisse and Deutsche Bank Securities are the lead managers on the deal.
