CGEN Sets IPO Terms

CGEN Digital Media Network Co. Ltd., a Shanghai-based operator of China's largest in-store television advertising network, has set its IPO terms to around 9.17 million American depository shares being offered at between $13 and $15 per share. It plans to trade on the Nasdaq under ticker symbol ADTV, with Piper Jaffray serving as lead underwriter.

 

The company has raised nearly $28 million in VC funding from firms like TDF Capital (12.2% pre-IPO stake), Redpoint Ventures (11.9%), Jafco (10.9%), Sumitomo Corp. (5.7%) and Hotung Investments (5.4%). www.cgenmedia.cn