KongZhong launches Nasdaq IPO

China''s leading 2.5G service provider nears end of pre-marketing.

Lead manager UBS is preparing to launch a $100 million Nasdaq IPO for wireless VAS Value Added Service provider KongZhong either at the end of this week or early next week. Fund managers say roadshows are likely to run for two-and-a-half weeks ahead of scheduled pricing at the end of the week beginning July 5.

The company is aiming to raise a fixed amount and will likely issue between 20% and 30% of share capital subject to the valuation it can achieve. The majority of the offering will be primary shares, with an as yet unspecified secondary share offering.

Co-leads are Bank of America and CIBC...

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