The online social media platform provider is set to become the first Chinese company to list in the US since March, with a plan to raise up to $97.5 million.
A concurrent ADS offering aimed at creating a synthetic borrow facility is priced at an 8.5% discount, resulting in a low effective conversion premium.
Silverline Technologies has priced its American depositary shares at a discount of between 9.7% and 19.2% to the company''s closing share price on the Mumbai Stock Exchange yesterday.
Silverline Technologies is the latest Indian company to tap the US equity markets with its planned sale of $125 million of American depositary shares on the New York Stock Exchange.