THOUNDER NETWORKING DECLINED PRICE RANGE

AsiaInfo Services
07-21-2011
Thounder Networking Declined Price Range

BEIJING, Jul 21, 2011 (SinoCast Daily Business Beat via COMTEX) -- It is reported that Shenzhen Thunder Networking Technologies Ltd. (Thunder Networking) has declined the price range from USD 14 to 16 previously into USD 12 to 14 currently.

What's more, the scale of the initial public offering of Thunder Networking will also decrease, disclosed insiders. The issue size of American depository share (ADS) will be changed from 7.6 million shares previously into 6 million shares currently. Calculating with the median price of USD 13, the fundraising of Thunder Networking will decreased into USD 78 million.

In fact, the fundraising of Thounder Networking has gone down almost 50% compared to plan. According to latest SEC document, Thounder Networking will issue 7.6 million shares in public. With the price range between USD 14 to 16, the fundraising of the company will amount to USD 112.5 million.

Thounder Networking was founded in Silicon Valley in 2002. At present, Thounder Network is one of the largest providers of download service in China with the paid members of 1.3 million.

Source: www.sina.com.cn (July 21, 2011)

KEYWORD: BEIJING INDUSTRY KEYWORD: Internet & Online Services & Media SUBJECT CODE: Internet & Online Services
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