Renren (RENN) IPO Delayed
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The pricing of the highly anticipated IPO of China's leading social network Renren Inc. (Nasdaq: RENN) has been delayed until tonight, according to reports from Reuters. It was expected to price Tuesday night.
If the pricing occurs Wednesday evening Renren could start trading on Thursday.
A number of China Internet stocks have been moving ahead of the Renren IPO and today's news could increase volatility: Baidu (Nasdaq: BIDU), Sina Corp. (Nasdaq: SINA), Sohu.com Inc. (Nasdaq: SOHU), E-Commerce China Dangdang Inc. (NYSE: DANG), Youku.com Inc (NYSE: YOKU), Qihoo 360 Technology Co. Ltd. A (NYSE: QIHU).
UPDATE: After initial reports that it was delayed, it is now confirmed that the IPO Renren has priced at $14, the top end of the $12-$14 range which was recently raised from $9-$11.
If the pricing occurs Wednesday evening Renren could start trading on Thursday.
A number of China Internet stocks have been moving ahead of the Renren IPO and today's news could increase volatility: Baidu (Nasdaq: BIDU), Sina Corp. (Nasdaq: SINA), Sohu.com Inc. (Nasdaq: SOHU), E-Commerce China Dangdang Inc. (NYSE: DANG), Youku.com Inc (NYSE: YOKU), Qihoo 360 Technology Co. Ltd. A (NYSE: QIHU).
UPDATE: After initial reports that it was delayed, it is now confirmed that the IPO Renren has priced at $14, the top end of the $12-$14 range which was recently raised from $9-$11.
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