Sky-mobi Limited Announces Pricing Of Its Initial Public Offering On NASDAQ
HANGZHOU, China, Dec. 9, 2010 (GLOBE NEWSWIRE) -- Sky-mobi Limited (Nasdaq:MOBI) ("Sky-mobi" or the "Company"), the operator of the leading mobile application store in China, announced today that its initial public offering of 7,250,000 American Depositary Shares ("ADSs") has been priced at $8.00 per ADS.
Sky-mobi is offering 6,125,000 American depositary shares, or ADSs, and the selling shareholders named in the prospectus are offering an additional 1,125,000 ADSs. The Company will not receive any of the proceeds from the sale of ADSs by the selling shareholders. The ADSs, each representing 8 common shares of Sky-mobi, will begin trading on December 10, 2010, on the Nasdaq Global Market under the ticker symbol "MOBI". The underwriters have an option to purchase up to 918,750 additional ADSs from Sky-mobi and an additional 168,750 ADSs from the selling shareholders at the initial public offering price less the underwriting discount to cover over-allotments.
Citigroup was the sole bookrunner. Piper Jaffray, Oppenheimer & Company and Rodman and Renshaw acted as co-managers for the offering.Sky-mobi's registration statement relating to these securities was declared effective as of December 9, 2010 by the U.S. Securities and Exchange Commission. Copies of the prospectus related to the offering may be obtained from the prospectus department of Citigroup, Attention: Prospectus Department, Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, NY 11220 (Tel: 800-831-9146); or Piper Jaffray & Co., Attention: Prospectus Department, 800 Nicollet Mall, Suite 800, Minneapolis, MN 55402, telephone: 800-747-3924 or email: firstname.lastname@example.org. This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV