China Digital TV, which is the leading provider of conditional access systems to China's rapidly growing digital television market, priced its initial public offering of 12 million ADSs at $16, which represents a 33% premium to the midpoint of its originally proposed $11 to $13 range, on Thursday night. In a sign of strong demand, the deal was priced even above the revised range of $13 to $15, which was upwardly adjusted earlier in the week. Morgan Stanley and Credit Suisse were joint book runners on the deal. The stock is expected to begin trading on NYSE under the ticker STV on Friday.
