Open Close prices follow-on public offering of American Depositary Shares Inc. (NYSE: WUBA) said its registered follow-on public offering of American depositary shares by the company and certain selling shareholders was priced at USD38.00 per ADS.

The company will issue and sell 2,000,000 ADSs and the selling shareholders will sell an aggregate of 4,000,000 ADSs. Each ADS represents two class A ordinary shares of the company. In connection with this offering, the selling shareholders have granted the underwriters a 30-day option to purchase up to an aggregate of 900,000 additional ADSs.

The gross proceeds to the company will be approximately USD76.0m. The company will not receive any proceeds from the sale of the ADSs by the selling shareholders. Morgan Stanley and Co. International plc, Credit Suisse Securities (USA) LLC and Citigroup Global Markets Inc. acted as the bookrunners, and Pacific Crest Securities LLC acted as a co-manager for the offering.


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