58 in the same city will be two times hair savings stock cited stocks frustrated

58 the same city (NYSE: WUBA) announced today that the company and its specific shareholders would issue 8 million shares of US depository shares, representing two shares of a common stock in the US depository stocks for two times.

58 the same city will issue 4 million shares in the United States depository shares, and the sale of shareholders will also provide 4 million shares of American depository. 58 The city plans to grant the underwriters a 30-day oversubscribed option, which can buy up to 1.2 million shares of the United States depository shares of 58 cities. 58 the same city will not receive any revenue from the sale of U.S. depository shares. A total of 11 million shares of US depository shares were sold in the same city in the previous October IPO deal.

Morgan Stanley International, Credit Suisse and Citigroup Global markets will act as the main underwriter of the US depository equity issue, while Pacific Crown Securities will be the deputy underwriter. The total financing of the deal will be $440 million, taking into account the shares that the offering shareholders will sell and the option of an excess placement to allow the underwriters to buy additional shares.

58 the same city in Monday to the United States Securities and Exchange Commission (SEC) submitted a form f-1/a document, said that the transaction is expected to be the highest issue price per share of a class of common shares of 23.87 U.S. dollars, that is, the United States depository shares of 47.74 U.S. dollars. 58 in the same city is a double shareholding structure, the IPO after the listing of its total stock A of about 43 million shares, Class B common stock of about 124 million shares. Of these, Class B shares have a voting power of 10 votes per share, representing about 96.6% of the voting rights of the 58 city shareholders. Class B common stock needs to be converted to a Class A common stock, which can then be sold.

Prior to the second issue, 58 of the same city executives held a total of 128 million B common shares, and after the second release, company directors and executives held a total of B shares of 111 million shares, the proportion of the company's voting rights accounted for 86.9%. 58 The same-city board has shelved "lock-time" restrictions on the sale of the company's shares, so that incumbent director Dong Yang can sell about 250,000 shares of American depository shares in the second issue of the deal.

58 shares in the city surged 50% per cent on the day of the IPO and continued to rise strongly in subsequent US market deals. In Monday, the New York Stock Exchange of the regular trading, 58 shares of the city fell 3.27 U.S. dollars, closed at 43.00 U.S. dollars, a decline of 7.07%, in the plate has touched a 41.84 dollar intraday lows. In the past 52 weeks, 58 of the city's highest share price of 58.89 U.S. dollars, the lowest share price of 21.00 U.S. dollars.