Tudou (TUDO) Sees Life on Possible Sina (SINA) Deal
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Shares of last week's IPO flop, Tudou Holdings Limited ADR (Nasdaq: TUDO), are higher Monday following reports Sina (Nasdaq: SINA) has taken a large stake in the company.
China Business News reported Sina signed an agreement to acquire an approximately 4 percent stake in Tudou for $40 million. It was also reported Sina may sign a strategic partnership with Tudou to boost its video offering.
Shares of Tudou are up 7.6 percent this morning, last trading around $20.70 . Last week the company priced its IPO at $29 per share but closed the week at $19.24, down 34 percent.
China Business News reported Sina signed an agreement to acquire an approximately 4 percent stake in Tudou for $40 million. It was also reported Sina may sign a strategic partnership with Tudou to boost its video offering.
Shares of Tudou are up 7.6 percent this morning, last trading around $20.70 . Last week the company priced its IPO at $29 per share but closed the week at $19.24, down 34 percent.
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