Sohu.com (SOHU) Higher Ahead of IPO of Changyou.com (CYOU) Spin-Off
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Sohu.com Inc. (Nasdaq: SOHU) is trading nearly 3% higher this AM on heavy volume ahead of the IPO of its spin-off Changyou.com Limited (Nasdaq: CYOU).
Changyou.com Limited priced 7,500,000 ADSs 7,500,000 at $16.00 the top end of the original pricing range of $14.00 to $16.00.
Upon the completion of this offering, Sohu will continue to be the controlling shareholder of Changyou.com, with an indirect shareholding of 70.7% of the combined total of our outstanding Class A and Class B ordinary shares, and control of 81.5% of the voting power of the combined total of outstanding Class A and Class B ordinary shares, assuming the underwriters' over-allotment option is not exercised.
Changyou.com Limited priced 7,500,000 ADSs 7,500,000 at $16.00 the top end of the original pricing range of $14.00 to $16.00.
Upon the completion of this offering, Sohu will continue to be the controlling shareholder of Changyou.com, with an indirect shareholding of 70.7% of the combined total of our outstanding Class A and Class B ordinary shares, and control of 81.5% of the voting power of the combined total of outstanding Class A and Class B ordinary shares, assuming the underwriters' over-allotment option is not exercised.
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