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YY, Inc. (YY) Files $100M IPO

October 15, 2012 9:52 AM EDT Send to a Friend
YY, Inc. (Nasdaq: YY) filed a registration with the U.S. SEC for an Initial Public Offering of its Common Stock. The proposed maximum offering amount is $100 million. YY filed to list on the Nasdaq Global Market under the ticker, "YY."

The offering is being made through Morgan Stanley, Deutsche Bank Securities, Citigroup, Pacific Crest Securities, and Piper Jaffray.

Select financial info from the F-1: "We have achieved significant growth in recent years. Our total net revenues increased from RMB32.7 million in 2009 to RMB128.3 million in 2010 and to RMB319.7 million (US$50.8 million) in 2011, representing a CAGR of 212.6% from 2009 to 2011. For the six months ended June 30, 2012, our total net revenues grew to RMB324.5 million (US$51.1 million), representing a 173.2% increase from RMB118.8 million for the six months ended June 30, 2011. We had a net loss of RMB47.1 million, RMB238.9 million and RMB83.2 million (US$13.2 million) in 2009, 2010 and 2011, respectively, and in the six months ended June 30, 2012, we had a net income of RMB20.8 million (US$3.3 million). Our adjusted net loss, a non-GAAP measure, decreased from RMB10.6 million in 2009 to RMB1.9 million in 2010, and in 2011, we had an adjusted net income of RMB51.8 million (US$8.2 million). In the six months ended June 30, 2012, our adjusted net income amounted to RMB75.1 million (US$11.8 million) compared to an adjusted net loss of RMB3.3 million in the same period in 2011. Our adjusted net (loss) income excludes non-cash share-based compensation expenses."

YY is a rich communication social platform that engages users in real-time online group activities through voice, text and video.




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Piper Jaffray, Deutsche Bank, Citi, Morgan Stanley, Pacific Crest Securities

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