Linktone Ltd., a provider of entertainment-oriented wireless value-added services to mobile phone users in China, today announced that its initial public offering of 6,140,000 American depositary shares (ADSs) was priced at U.S. $14.00 per ADS.
Each ADS represents 10 ordinary shares of Linktone. The ADSs are scheduled to begin trading on March 4, 2004, New York time on the Nasdaq National Market under the symbol "LTON."
Of the 6,140,000 ADSs, Linktone is selling 5,150,000 ADSs and certain of its selling shareholders are selling 990,000 ADSs. Credit Suisse First Boston is acting as the sole book runner for the offering, and has been granted a 30-day option by Linktone and the selling shareholders to purchase up to an additional aggregate amount of 920,000 ADSs to cover over-allotments.
Headquartered in Shanghai, Linktone is a provider of fee-based, wireless value-added media, entertainment and communications services to mobile phone users in China. Working in close partnership with mobile operators China Mobile and China Unicom, Linktone provides a diverse portfolio of branded and proprietary products, including ring tones, icons, screen savers, interactive messaging, games and information services to mobile users in the world's largest wireless market. The company develops, aggregates and distributes innovative and engaging products for China's growing mobile-user base utilizing an in-house development team and alliances with international branded content partners such as Turner Broadcasting/Cartoon Network, STAR TV and Sony Music.