YY Inc. Announces Pricing of Offering of American Depositary Shares
August 16 2017 - 1:45AM
YY Inc. (Nasdaq:YY) (“YY” or the “Company”), a leading live
streaming social media platform in China, today announced the
pricing of 5,750,000 American depositary shares (the “ADSs”), each
representing 20 Class A common shares of the Company (the “ADS
Offering”), at US$70.00 per ADS. The Company has granted the
underwriters in the ADS Offering a 30-day option to purchase up to
an additional 862,500 ADSs to cover over-allotments, if any.
Credit Suisse Securities (USA) LLC, Goldman Sachs (Asia) L.L.C.
and China Renaissance Securities (Hong Kong) Limited are acting as
the joint book-running managers for the ADS Offering.
The Company expects to close the ADS Offering on or about August
21, 2017, subject to the satisfaction of customary closing
conditions.
The ADS Offering is being made only by means of a prospectus
supplement and an accompanying prospectus included in a
registration statement on Form F-3 filed with the U.S. Securities
and Exchange Commission (the “SEC”) on August 14, 2017, which
automatically became effective upon filing. Copies of the
prospectus supplement and the accompanying prospectus relating to
the ADS Offering may be obtained from Credit Suisse Securities
(USA) LLC, Attention: Prospectus Department at Eleven Madison
Avenue, New York, New York 10010-3629 or by telephone at +1 (800)
221-1037, Goldman, Sachs & Co. LLC, 200 West Street, New York,
NY 10282, Attention: Prospectus Department (telephone: +1 (212)
902-1171; e-mail: prospectus-ny@ny.email.gs.com), or China
Renaissance Securities (Hong Kong) Limited, Unit 8107-08, Level 81,
International Commerce Centre, 1 Austin Road West, Kowloon, Hong
Kong (telephone: +852 2287 1600).
The Company plans to use the net proceeds from the ADS Offering
for (i) general corporate purposes, which may include acquisitions
of and investments in complementary businesses and assets, and
expansion of our overseas business operations, and (ii) repayment
of existing bank loans.
This press release shall not constitute an offer to sell or a
solicitation of an offer to purchase any securities, nor shall
there be a sale of the securities in any state or jurisdiction in
which such an offer, solicitation or sale would be unlawful.
This press release contains information about the pending
offering of the ADSs, and there can be no assurance that the
offering will be completed.
About YY Inc.
YY Inc. (“YY” or the “Company”) is a leading live streaming
social media platform in China. The Company’s highly engaged users
contribute to a vibrant social community by creating, sharing and
enjoying a vast range of entertainment content and activities. YY
enables users to interact with each other in real-time through
online live media and offers users a uniquely engaging and
immersive entertainment experience. YY Inc. was listed on the
NASDAQ in November 2012.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the “safe harbor” provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
“will,” “expect,” “anticipate,” “future,” “intend,” “plan,”
“believe,” “estimate” and similar statements. YY may also make
written or oral forward-looking statements in its periodic reports
to the SEC, in its annual report to shareholders, in press releases
and other written materials and in oral statements made by its
officers, directors or employees to third parties. Statements that
are not historical facts, including statements about YY’s beliefs
and expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. A number of
factors could cause actual results to differ materially from those
contained in any forward-looking statement, including but not
limited to the following: YY’s goals and strategies; YY's future
business development, results of operations and financial
condition; the expected growth of the online communication social
platform market in China; the expectation regarding the rate at
which to gain active users, especially paying users; YY’s ability
to monetize the user base; fluctuations in general economic and
business conditions in China and assumptions underlying or related
to any of the foregoing. Further information regarding these and
other risks is included in YY’s filings with the SEC. All
information provided in this press release and in the attachments
is as of the date of this press release, and YY does not undertake
any obligation to update any forward-looking statement, except as
required under applicable law.
Investor Relations Contact
YY Inc.
Yuffie Fu
Tel: (+86) 2029162000
Email:IR@YY.com
ICR, Inc.
Xueli Song
Tel: (+1) 646 915-1611
Email:IR@YY.com
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