SHANGHAI, China, Sept. 14, 2018 (GLOBE NEWSWIRE) -- Qutoutiao Inc. (“Qutoutiao” or the “Company”) (NASDAQ: QTT), a leading mobile content aggregator in China, today announced that it has priced its initial public offering of 12,000,000 American depositary shares (“ADSs”), at US$7.00 per ADS for a total offering size of approximately US$84 million, assuming the underwriters do not exercise their option to purchase additional ADSs. Each four ADSs represent one Class A ordinary share of the Company. The ADSs are expected to begin trading on the NASDAQ Global Select Market under the ticker symbol “QTT” on September 14, 2018.
The Company has granted the underwriters an option, exercisable within 30 days from the date of the final prospectus, to purchase up to an aggregate of 1,800,000 additional ADSs.
Citigroup Global Markets Inc. and Deutsche Bank Securities Inc. (in alphabetical order) as well as China Merchants Securities (HK) Co., Ltd. and UBS Securities LLC (in alphabetical order) are acting as joint bookrunners for the offering and KeyBanc Capital Markets Inc. is acting as co-manager.
A registration statement related to these securities has been filed with, and declared effective by, the United States Securities and Exchange Commission. This press release shall not constitute an offer to sell or a 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.
This offering is being made only by means of a prospectus forming part of the effective registration statement. A copy of the final prospectus relating to the offering may be obtained, when available, by contacting: (1) Citigroup Global Markets Inc., Attention: Prospectus Department, at 1155 Long Island Avenue, Edgewood, New York, NY11717, United States, by telephone at +1-800-831-9146; (2) Deutsche Bank Securities Inc., Attention: Prospectus Department, at 60 Wall Street, New York, NY 10005, United States, by telephone at +1-800-503-4611 or by emailing prospectus.cpdg@db.com; (3) China Merchants Securities (HK) Co., Ltd., Attention: Prospectus Department, at 48/F, One Exchange Square, Central, Hong Kong, by telephone at +852 3189 6888 or by emailing gcmgroup@cmschina.com.hk; (4) UBS Securities LLC, Attention: Prospectus Department at 1285 Avenue of the Americas, New York, NY, 10019, , by telephone at +1-888-827-7275 or by emailing ol-prospectus-request@ubs.com; or (5) KeyBanc Capital Markets Inc., Attention: Prospectus Department, at 127 Public Square, 4th Floor Cleveland, OH 44114, by telephone at +1-800-859-1783.
About Qutoutiao Inc.
Qutoutiao Inc. is a leading mobile content aggregator in China. Launched in June 2016, the Company’s flagship mobile application, Qutoutiao, meaning “fun headlines” in Chinese, aggregates articles and short videos from professional media and freelancers and presents customized feeds to users. The Company believes that it represents a new generation of technology-driven content platforms and its technology brings relevant information and entertainment to users, stimulates users’ desire to read, and ultimately improves the knowledge exchange in society.
For more information, please visit: https://ir.qutoutiao.net.
For investor and media inquiries, please contact:
In China:
Qutoutiao Inc.
Investor Relations
Tel: +86-21-6858-3790
E-mail: ir@qutoutiao.net
The Piacente Group, Inc.
Ross Warner
Tel: +86-10-5730-6202
E-mail: qutoutiao@tpg-ir.com
In the United States:
The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: qutoutiao@tpg-ir.com