Youku and Maoye raise fresh capital

Youku.com and a group of its pre-IPO investors raise $539 million in the US, while Maoye secures $131 million through a top-up placement after the Hong Kong market closes on Friday.

Youku and Maoye raise fresh capital
Youku is China's biggest online video site (AFP)

Youku.com, China’s largest online video company, and a number of pre-IPO investors early Friday raised a combined $539 million from a fully marketed follow-on offering. When the deal was first flagged on May 5, Youku’s share price had risen more than four times since the December IPO, but that didn’t stop investors from buying the stock and the offering ended about three times covered.

The price did fall during the marketing, which may have...

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