Tudou drops 11.9% in Nasdaq debut after raising $174 million

Tudou becomes the second Chinese online video company to list in the US after pricing its IPO at the mid-point of the range.

Tudou drops 11.9% in Nasdaq debut after raising $174 million
CEO Gary Wei Wang at the launch of Tudou on Nasdaq

Tudou Holdings, the owner of an online Chinese platform for uploading and sharing videos, finished 11.9% down on its first day of trading on Nasdaq. The decline came after the company early yesterday morning priced its initial public offering at the mid-point of the range for a total deal size of $174 million.

The bookbuilding coincided with a sharp sell-off in US and global equity markets during the past couple of weeks and, last week...

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