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Sohu.com Unit Sogou Prices IPO Of 45 Mln ADS At $13/share; To Raise $585 Mln

Sogou Inc. (SOGO), the online search and search-related services unit of Chinese online media company Sohu.com Inc. (SOHU), announced Wednesday that it has priced its initial public offering of 45 million American depositary shares, each representing one Class A Ordinary Share, at a price to the public of $13 per ADS.

The total IPO size would be $585 million, assuming the underwriters do not exercise their over-allotment option.

Sogou has granted the underwriters a 30-day option to purchase up to an additional 6.75 million ADSs to cover over-allotments.

The ADSs have been approved for listing on the New York Stock Exchange and are expected to begin trading on November 9 under the ticker symbol "SOGO."

J.P. Morgan, Credit Suisse, Goldman Sachs, and CICC acted as joint bookrunners for the IPO and as the representatives of the underwriters, and China Renaissance Securities acted as co-manager.

It was on October 13 that Sohu.com said its unit has filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission relating to a proposed IPO.

by RTTNews Staff Writer

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