Business, Software

CDC Software Prices IPO At USD12 Per ADS

CDC Software Corporation, a subsidiary of China-based CDC Corporation, announced the pricing of its initial public offering of 4,800,000 American depositary shares, each representing one share of its class A ordinary shares, at USD12.00 per ADS.

The ADSs will begin trading on the Nasdaq Global Market on August 6, 2009, under the ticker symbol "CDCS". CDC Software Corporation offered 4,000,000 ADSs and the selling stockholder, CDC Software International Corporation, its parent corporation, offered the remaining 800,000 ADSs in the offering.

The underwriters have a 30-day option to purchase up to an additional 720,000 ADSs from CDC Software Corporation and the selling stockholder to cover over-allotments, if any. Of such 720,000 additional ADSs, 360,000 ADSs may be made available by CDC Software Corporation and 360,000 ADSs may be made available by CDC Software International.

Lazard Capital Markets LLC and JMP Securities LLC are acting as joint book-running managers for the offering. Cantor Fitzgerald & Co., Janney Montgomery Scott, Macquarie, and Morgan Keegan & Company Inc. are the co-managers of the offering.

A registration statement relating to the ADSs, which includes information on CDC Software Corporation's class A ordinary shares, has been declared effective by the Securities and Exchange Commission in the United States.

2 Comments

  1. You should update this 51job.com article because the IPO day ended and this was the WORST DAY for all IPOs in the USA in 2009! Chinese tech stocks are going down and this CDC Corporation is taking them all with them!

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