Sky-mobi Limited Announces Pricing of Its Initial Public Offering on NASDAQ
December 09 2010 - 11:34PM
Sky-mobi Limited (Nasdaq:MOBI) ("Sky-mobi" or the "Company"), the
operator of the leading mobile application store in China,
announced today that its initial public offering of 7,250,000
American Depositary Shares ("ADSs") has been priced at $8.00 per
ADS.
Sky-mobi is offering 6,125,000 American depositary shares, or
ADSs, and the selling shareholders named in the prospectus are
offering an additional 1,125,000 ADSs. The Company will not receive
any of the proceeds from the sale of ADSs by the selling
shareholders. The ADSs, each representing 8 common shares of
Sky-mobi, will begin trading on December 10, 2010, on the Nasdaq
Global Market under the ticker symbol "MOBI". The underwriters have
an option to purchase up to 918,750 additional ADSs from Sky-mobi
and an additional 168,750 ADSs from the selling shareholders at the
initial public offering price less the underwriting discount to
cover over-allotments.
Citigroup was the sole bookrunner. Piper Jaffray, Oppenheimer
& Company and Rodman and Renshaw acted as co-managers for the
offering.
Sky-mobi's registration statement relating to these securities
was declared effective as of December 9, 2010 by the U.S.
Securities and Exchange Commission. Copies of the prospectus
related to the offering may be obtained from the prospectus
department of Citigroup, Attention: Prospectus Department, Brooklyn
Army Terminal, 140 58th Street, 8th Floor, Brooklyn, NY 11220 (Tel:
800-831-9146); or Piper Jaffray & Co., Attention: Prospectus
Department, 800 Nicollet Mall, Suite 800, Minneapolis, MN 55402,
telephone: 800-747-3924 or email: prospectus@pjc.com.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy the securities described herein,
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.
About Sky-mobi Limited:
Sky-mobi Limited (Nasdaq:MOBI), operates the leading mobile
application store in China. Sky-mobi works with handset
companies to pre-install its Maopao mobile application
store on handsets and with content developers to provide users
with high quality applications and content titles.
Users of the Maopao store can browse, download and purchase a
wide range of applications and content such as single-player games,
mobile music and books. In addition, Sky-mobi has established a
leading mobile social network community in China, the Maopao
Community, where it offers popular localized mobile social games as
well as applications and content with social network functions to
its registered members. The Maopao store enables mobile
applications and content to be downloaded and run on a variety of
mobile handsets with different hardware and operating system
configurations.
The Sky-mobi Limited logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=8458
CONTACT: Sky-mobi Limited
Mr. Carl Yeung, CFO
+(86) 571-87770978 (Hangzhou)
ir@sky-mobi.com
CCG Investor Relations
Mr. Ed Job, Account Manager
+(1) 646-213-1914 (New York)
Kristin Knies, Senior MI Executive
+(1) 646-833-3401
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