Renren To Price IPO Later Today; General Atlantic, CEO Chen Are Selling Shares
Renren, the so called "Facebook of China," is expected to price later today. Beijing-based RenRen is offering 53.1 million ADS at $12 to $14 a share. Each ADS represents three Class A ordinary shares of RenRen, according to a May 2 regulatory filing. Book runners on the deal include Morgan Stanley, Deutsche Bank Securities and Credit Suisse. Other underwriters include BofA Merrill Lynch, Jefferies, Pacific Crest Securities and Oppenheimer & Co. The company itself is offering 42.9 million ADSs while shareholders are selling another 10.2 million ADS. Renren expects to trade Wednesday on the NYSE under the ticker "RENN."
3 May 2011•2 mins read
