ChinaCache International, China's leading provider of Internet content and application delivery services, raised the proposed deal size for its upcoming IPO on Thursday. The Beijing-based company now plans to raise $67 million by offering 6,060,980 ADSs at a price range of $10.00 to $12.00. The company had previously filed to offer 5,500,980 ADSs at a range of $10.00 to $12.00. Existing shareholders still plan to sell 1,046,880 ADSs, unchanged from its initial filing. At the mid-point of the revised range, ChinaCache International will raise 10% greater proceeds than previously anticipated. ChinaCache International, which was founded in 1998 and booked $46 million in sales over the last 12 months, plans to list on the NASDAQ under the symbol CCIH. BofA Merrill Lynch and Deutsche Bank Securities are the lead underwriters on the deal. The deal is expected to price Thursday evening and open for trading on Friday.
