58 The city announced the exercise of the excess placing of 1.65 million ads to raise funds to 230 million U.S. dollars

58 the same city (Nyse:wuba) announced the exercise of the excess placement of 1.65 million ads, raise funds to 230 million U.S. dollars, than the original expected 150 million U.S. dollars higher than 50%, which is the Chinese company this year in the United States listed the highest amount of financing.

58 with the city on November 1 on the NYSE, listed on the first day of the listing of 24.31 U.S. dollars, more than 17 U.S. dollar price, up 43%, of which the highest between the top has risen to 26.82 U.S. dollars. It is reported that the IPO, in order to stabilize future stock prices, will generally adopt the "green shoes" mechanism (ie, the right to excess placements) to escort. And whether the final exercise, stock prices and market confidence is a more important factor.

In general, underwriters may, within 30 days from the date of listing, be able to timing shares of 15% (generally not more than 15% per cent) at the same issue price. If the price after the listing is lower than the offer, the principal underwriting commercial prior to the sale of the stock (prior to the sale of the excess Investor's funds), at a price not higher than the issue value of the market to buy from the two level, and then allocated to the investors who submitted an oversubscribed subscription; The main underwriter asks the issuer to issue 15% of the shares and allocate it to the investor who made the application.

58 in the same city, the IPO issued a total of 11 million ads (1 ads equivalent to 2 common shares), over the distribution of 1.65 million ads (the number of shares issued 15%), after the issuance of the total share capital of about 160 million shares, the final price of 17 U.S. dollars/ads.