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Sohu announces conclusion of Changyou.com IPO

BEIJING, Apr 08, 2009 (Xinhua via COMTEX) --

Company: Sohu.com Inc. (SOHU)

Chinese leading internet media company Sohu.com (SOHU.NASDAQ) recently announced conclusion of IPO for Chang you.com Ltd. (Changyou.Nasdaq), an online games subsidiary of Sohu, an d the full exercise of the underwriters' over-allotment options.

Sohu said that Changyou has sold 3.75 million American Depository S hares (ADSs) and Sohu.com (Game) Ltd., the selling shareholder and ind irect wholly-owned subsidiary of Sohu, sold 4.875 million ADSs, includ ing the over-allotment option.

It is estimated that Changyou and the selling shareholder could rai se 55.8 million U.S. dollars and 72.5 million dollars, respectively, f rom the offering, excluding the underwriting discounts and commissions .

Sohu now holds 68.5 percent of total outstanding equity in Changyou and controls approximately 80.8 percent of total voting power. Endite m

Copyright (C) 2009 Xinhua Economic News. All rights reserved

News Provided by COMTEX

Company: Sohu.com Inc. (SOHU)


Related terms: equity, exercise, internet, ipo, media, online

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