Youku IPO

China's YouTube plans follow-on share sale

Youku, a Chinese YouTube copy, has said the deal could be as large as $600 million, although a portion of the shares will be sold by pre-IPO investors.
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Youku, a Chinese version of YouTube, is aiming to sell new equity after its share price has more than quadrupled since the December IPO (AFP)
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<div style="text-align: left;"> Youku, a Chinese version of YouTube, is aiming to sell new equity after its share price has more than quadrupled since the December IPO (AFP) </div>

Youku.com, China’s largest online video company, is planning to raise fresh capital through a follow-on sale of American depositary receipts ADRs it said in a filing with the Securities and Exchange Commission after the US market closed on Thursday. The announcement came less than six months after the company went public in New York.

According to the filing, the sale could be as large as $600 million, although Youku later clarified that part of the offering will be made up of secondary shares sold by its pre-IPO investors, which means not all the proceeds will go to the company. Even so, at $600 million this would be the second-largest...

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