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Dangdang Announces Pricing of Initial Public Offering on NYSE

^{Published on 2010-12-08 04:25:55 - Market Wire}
 

BEIJING--([ BUSINESS WIRE ])--E-commerce China Dangdang Inc. ("Dangdang" or the "Company") (NYSE: DANG), a leading B2C e-commerce company in China, today announced that its initial public offering of 17,000,000 American Depositary Shares ("ADSs"), each representing five Class A common shares of the Company, was priced at $16.00 per ADS. The ADSs will begin trading on the New York Stock Exchange today, December 8, 2010, under the symbol "DANG."

Of the 17,000,000 ADSs being offered, 13,200,000 ADSs are offered by Dangdang, and 3,800,000 ADSs are offered by the selling shareholders. The underwriters have been granted an option to purchase up to an additional 300,000 ADSs from Dangdang and 2,250,000 ADSs from certain selling shareholders within 30 days from the date of the final prospectus at the initial public offering price, less underwriting discounts and commissions.

Credit Suisse and Morgan Stanley are acting as joint bookrunners for this offering. The co-managers of this offering are Oppenheimer & Co., Piper Jaffray and Cowen and Company.

Dangdang's registration statement relating to these securities has been declared effective by the United States Securities and Exchange Commission. 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.

The offering of the securities is made only by means of a prospectus forming a part of the effective registration statement. A copy of the prospectus relating to the offering may be obtained by contacting Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, Eleven Madison Avenue, New York, NY 10010-3629, United States of America, phone +1 (800) 221-1037; or Morgan Stanley & Co. Incorporated, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY, 10014, United States of America, phone +1 (866) 718-1649 or email [ prospectus@morganstanley.com ].

About Dangdang

E-commerce China Dangdang Inc. ("Dangdang" or the "Company") (NYSE: DANG) is a leading B2C e-commerce company in China. On its website dangdang.com, the Company offers more than 590,000 book titles and a range of other media products as well as selected general merchandise categories. It also operates the dangdang.com marketplace program, which allows third-party merchants to sell their general merchandise products alongside products sourced by the Company. Dangdanga™s nationwide fulfillment and delivery capabilities, high-quality customer service support and scalable technology infrastructure enable it to provide a compelling online shopping experience to customers.