Sogou (SOGO) IPO Opens Flat

Today's IPO for Sogou Inc. (NYSE: SOGO) opened for trading earlier at $13 after pricing 45,000,000 American depositary shares ("ADSs"), each representing one Class A Ordinary Share, at a price to the public of US$13.00 per ADS.

Sogou has granted the underwriters a 30-day option to purchase up to an additional 6,750,000 ADSs to cover over-allotments.

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.

Sogou, a subsidiary of Sohu.com (NASDAQ: SOHU), is a innovator in search and a leader in China's Internet industry.

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