58.com Prices IPO Of 11 Mln ADSs At $17/ADS - Quick Facts

(RTTNews) - 58.com Inc. (WUBA) said it has priced its initial public offering of 11.0 million American Depositary Shares or ADSs, each representing two Class A ordinary shares of the company, at $17.00 per ADS for a total offering size of $187 million, assuming the underwriters do not exercise their option to purchase additional ADSs.

The underwriters were granted an option, exercisable within 30 days from the date of the final prospectus, to buy up to 1.65 million additional ADSs at $17.00 per ADS. The ADSs may commence trading on the New York Stock Exchange today under the ticker symbol "WUBA".

Morgan Stanley & Co. International plc, Credit Suisse Securities (USA) LLC and Citigroup Global Markets Inc. are acting as joint bookrunners, and Pacific Crest Securities LLC is acting as co-manager, for the offering.