Youku.com, China’s largest online video company, is planning to raise fresh capital through a follow-on sale of American depositary receipts ADRs it said in a filing with the Securities and Exchange Commission after the US market closed on Thursday. The announcement came less than six months after the company went public in New York.
According to the filing, the sale could be as large as $600 million, although Youku later clarified that part of the offering will be made up of secondary shares sold by its pre-IPO investors, which means not all the proceeds will go to the company. Even so, at $600 million this would be the second-largest...
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