Qihoo 360 launches its IPO in New York
May 04, 2011 | BY
clpstaff &clp articlesPRC-based internet and mobile security products provider Qihoo 360 Technology (Qihoo 360) has debuted on the New York Stock Exchange. Its initial public…
PRC-based internet and mobile security products provider Qihoo 360 Technology (Qihoo 360) has debuted on the New York Stock Exchange. Its initial public offering (IPO) of American Depositary Shares (ADSs) raised approximately US$202 million. This is the largest listing by a Chinese company in the US this year so far.
The joint bookrunners of this offering were UBS and Citi, and Stifel Nicolaus Weisel and Cowen and Company acted as co-managers.
The issuer's counsel as to US law aspects was a Hong Kong-based Latham & Watkins corporate team including partners David Zhang and Eugene Lee. Commerce & Finance Law Offices provided PRC law advice to Qihoo 360, and Maples and Calder was its Cayman Islands law adviser. Simpson Thacher & Bartlett and King & Wood advised the underwriters on US and PRC law respectively.
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