Tudou priced its initial public offering in New York on Tuesday night, raising $174m in a deal that valued the Chinese streaming video website at $822m.
The successful offering marks a reopening of the US IPO market after shutting down last week amid market turbulence. It also signals a vote of confidence in Chinese companies by US investors, who had turned against the country’s offerings in recent months.
The offering of 6m shares priced at $29 each, within its $29 to $30-a-share range. The shares will begin trading on the Nasdaq market on Wednesday.
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