Chinese children’s entertainment and media companies today rice network to determine its IPO price of $9, the lower limit within the price range of 9 to 11 U.S. dollars, according to the prospectus before plans to issue 7 million 200 thousand shares of American Depositary Shares (ADS), to raise funds of $64 million 800 thousand.
previously announced its rice network listing application has been finally approved, will visit the New York Stock Exchange on June 9th, trading code for TAOM". Credit Suisse, Deuthe Bank Securities Inc for the rice network of the IPO underwriters, Oppenheimer Pacific, Crest Securities, Stifel Nicolaus Weisel and China international financial companies as underwriters of the deal.
according to the prospectus, 2008 to 2010, net revenues of rice network were $100 thousand, $7 million 100 thousand and $36 million. In 2009, net revenues of 97.3% of the rice network from user fees and sales of virtual goods, the remaining 2.7% from the patent fee and license fee business line. In 2010 the proportion was 93.6% and 6.4%, respectively.
rice network founded in October 2007, founded by Wang Haibing, Cheng Yunpeng, Wei Zhen, Tencent co-founder Ceng Liqing and Sina senior vice president Wang Bin angel investment. In 2009, rice network access to Qiming, $5 million in venture capital. Rice network current business including "Moore Park", "Purcell number", "Kung Fu", "flowers Xian", "Moore," Hatchie town "Warriors" a number of children’s online products.