Technology
Renren IPO pricing delayed until Wednesday: Source
Updated: 2011-05-04 10:23
(Agencies)
NEW YORK - The highly anticipated initial public offering of Renren Inc, one of China's largest social networks, will be delayed until Wednesday, sources familiar with the deal said on Tuesday.
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The Beijing-based company planned to sell 53.1 million American depositary shares (ADSs) at $12 to $14 each. The ADSs were expected to begin trading on the New York Stock Exchange on Wednesday under symbol "RENN."
Morgan Stanley, Deutsche Bank and Credit Suisse led underwriters on the IPO.
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