SHENZHEN, China, June 24, 2014 (GLOBE NEWSWIRE) -- Xunlei Limited ("Xunlei" or the "Company") (Nasdaq:XNET) today announced the pricing of its initial public offering of 7,315,000 American Depositary Shares ("ADSs") at an offering price of $12 per ADS. Each ADS represents five common shares. The Company's ADSs are expected to begin trading on the NASDAQ Global Select Market on June 24, 2014 (US Eastern Time) under the ticker symbol "XNET." Xunlei's initial public offering consists of 7,315,000 ADSs. In addition, the underwriters have been granted a 30-day option to purchase up to an additional 1,097,250 ADSs.
J.P. Morgan Securities LLC and Citigroup Global Markets Inc. are acting as the joint book-running managers of the offering and the representatives of the underwriters. Oppenheimer & Co. Inc. is acting as the co-manager for this offering.
Xunlei's registration statement relating to this offering has been filed with the U.S. Securities and Exchange Commission and was declared effective on June 23, 2014 (U.S. Eastern Time). The offering is being made only by means of a prospectus. When available, an electronic prospectus may be made available on the Internet website maintained by one or more of the representatives of the underwriters for this offering.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful, prior to registration or qualification under the securities laws of any such state or jurisdiction.
Xunlei Limited ("Xunlei") is one of the top 10 largest Chinese internet companies, with an average of approximately 300 million monthly unique visitors for the three months ended on March 31, 2014, according to iResearch. Xunlei is the No. 1 acceleration product provider in China as measured by market share in March 2014, according to iResearch. Xunlei operates a powerful internet platform in China based on cloud computing to provide users with quick and easy access to digital media content through its core products and services, Xunlei Accelerator and the cloud acceleration subscription services. Xunlei is increasingly extending into mobile devices in part through potentially pre-installed acceleration products in mobile phones and to living rooms through TV coverage. Benefitting from the large user base accumulated by Xunlei Accelerator, Xunlei has further developed various value-added services, including Xunlei Kankan, online game and pay per view, to meet a fuller spectrum of its users' digital media content access and consumption needs.
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