July 12, 2013 / 11:27 AM / 4 years ago

Chinese online company Cloudary withdraws $200 mln U.S. IPO

(Reuters) - China-based Cloudary Corp, which runs online libraries, said it would withdraw its initial public offering of up to $200 million of American Depository Shares, citing current market conditions.

Shares in the offering were being sold by the company and its parent Shanda Investment Holdings Ltd, a unit of internet media firm Shanda Interactive Entertainment Ltd SNDA.O.

Cloudary has six original literature websites and had about 66.9 million monthly visitors in the first quarter of 2012, a filing showed.

The company, which had filed for a U.S. listing in May 2011, had listed BofA Merrill Lynch and Goldman Sachs as underwriters to the offering.

Reporting By Neha Dimri in Bangalore; Editing by Sreejiraj Eluvangal

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below