Saturday, October 8, 2011

'Chinese YouTube's' shares fall

8:42 AM | Posted by ProJ | | Edit Post

IS Tudou first company to go public market turbulence last week sincere

The Chinese video site Tudou has seen that share fall from Wall Street to start STI STI As has become the first company to go public market turbulence last week sincere.

Actions Tudou, the Chinese called YouTube, opened at $ 24 each on the Nasdaq, down 12% on their asking price $ 29. The company is down 8.3% at 13 hours in New York, gold 18:00 CET UK.

Comes The disappointing debut as investor appetite for new public inscriptions in general business conditions Wanes tumultuous. But it also comes after investor concerns about accounting measures outlined by the U.S. listed Chinese recently undertaken.

Tudou, which is based in Shanghai, raised $ 174m (£ 105m) after share prices IST on Tuesday night. The company was valued at $ 2.8 billion ICT After its debut on the Nasdaq.
  • ute, rival of Tudou, the video site Youku Chinese, was one of Wall Street's strong gains on Wednesday as STIs stocks rose 12%.

Actions Youku, which went public in December 2010, traded hands at $ 27 each in early afternoon trade on almost the New York Stock Exchange.


Tudou has its number of registered users doubled in the last two years, to 90 million by the end of June Ute, the company has had six years of losses Widener. Its net loss in the three months to March 31 was $ 52 million income on $ 12.1 million.

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