Xunlei Limited announced the pricing of its initial public offering of 7.315 million American Depositary Shares or "ADSs" at an offering price of $12 per ADS. Each ADS represents five common shares.
The company's ADSs are expected to begin trading on the NASDAQ Global Select Market on June 24, 2014 (US Eastern Time) under the ticker symbol "XNET."
Xunlei's initial public offering consists of 7.315 million ADSs. In addition, the underwriters have been granted a 30-day option to purchase up to an additional 1.097 million ADSs.
J.P. Morgan Securities LLC and Citigroup Global Markets Inc. are acting as the joint book-running managers of the offering and the representatives of the underwriters. Oppenheimer & Co. Inc. is acting as the co-manager for this offering.
Xunlei Limited is one of the top 10 largest Chinese internet companies, with an average of approximately 300 million monthly unique visitors for the three months ended on March 31, 2014, according to iResearch.
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