Shanghai-based Linktone, a mobile phone value-added services provider, has completed its 6.14 million ADR issue above its indicative price range. The company raised $86 million after pricing its deal at $14 on Wednesday US time, two dollars above the top of the range.
Proceeds could rise to $99 million after the exercise of the greenshoe. One ADR equals 10 shares.
The Credit Suisse First Boston led deal closed 15 times oversubscribed despite a 10% cap per order. Aside from heavy oversubscription, the deal also attracted strong international demand. Specialists say about 30% of the deal was placed with international investors compared to the more usual 15% to 20% seen for US...
