Chinese Facebook sets price range for US IPO

Renren sets the price range for its IPO at between $9 and $11, suggesting the company could raise up to $584 million.
Photo: AFP
Photo: AFP
April 19, 2011

Renren, a Chinese Facebook clone, is set to raise as much as $584 million after opening the order books for its US initial public offering (IPO). The deal is likely to become another hot IPO as investors in the US clamour for a chance to buy into the leading social-networking site in the world’s most populous internet market.

¬ Haymarket Media Limited. All rights reserved.

Sign in to read on!

Registered users get 2 free articles in 30 days.

Subscribers have full unlimited access to FinanceAsia.

Not signed up? New users get 2 free articles per month, plus a 7-day unlimited free trial.

Questions?
See here for more information on licences and prices, or contact [email protected].

Related Articles

Chinese Facebook sends request for capital

The IPO of Renren.com, the largest social networking site in China, offers investors the opportunity to buy into the world's most populous internet market, where social networks are highly regarded.
March 02, 2011