VanceInfo Prices IPO

VanceInfo Technologies Inc., a Beijing-based provider of offshore software development, raised $64.26 million through its IPO. The company priced 7.65 million American depository shares at $8.50 per share ($7.50-$9.50 range), and will trade on the NYSE under ticker symbol VIT. Citi and Merrill Lynch served as co-lead underwriters.

 

VanceInfo had raised around $32 million in VC funding from firms like DCM, Sequoia Capital and an investment fund affiliated with the Chinese Academy of Sciences. www.vanceinfo.com