Renren (RENN) Increases IPO Price Expectations to $12 - $14/ADS
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Renren Inc. (NYSE: RENN) filed an amended registration with the U.S. Securities and Exchange Commission today for an initial public offering of its American Depositary Shares (ADSs). Renren filed to sell 53.1 million ADSs and increased its expected offering price range from $9 - $11 ot $12 - $14 per ADS. Renren plans to list on the New York Stock Exchange under the ticker "RENN."
The offering is being made through Morgan Stanley, Deutsche Bank, Credit Suisse, BofA Merrill Lynch, Jefferies, Pacific Crest Securities, and Oppenheimer & Co.
Renren operates the leading real name social networking internet platform in China as measured by total page views, total number of visits and total user time spent on social networking websites in February 2011, based on data issued in March 2011 by iResearch.
The offering is being made through Morgan Stanley, Deutsche Bank, Credit Suisse, BofA Merrill Lynch, Jefferies, Pacific Crest Securities, and Oppenheimer & Co.
Renren operates the leading real name social networking internet platform in China as measured by total page views, total number of visits and total user time spent on social networking websites in February 2011, based on data issued in March 2011 by iResearch.
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