Hong Kong software and video game developer CDC Corp. (NASDAQ:CHINA) is taking another crack at an IPO for its Atlanta-based unit CDC Software. The company yanked
IPO plans one year ago; it had planned to raise up to $255 million during the first half of 2008, but the rough market changed its mind.
This time around, the business software unit has pared its ambitions. It is
expected to offer 4.8 million American Depositary Shares at a price range of $11 to $13 each, with another 800,000 to be sold in the offering by an unidentified party. It plans to debut on the Nasdaq exchange under the ticker symbol CDCS.
Underwriting
the offering are Lazard Capital Markets, JMP Securities, Cantor Fitzgerald & Co., Janney Montgomery Scott, Macquerie and Morgan Keegan & Co. CDC Software has hired Christopher Paci of DLA Piper as its counsel; underwriters' counsel is James Ball of Milbank, Tweed, Hadley & McCloy LLP.
Shares of CDC Corp. climbed 27% to $1.91 each in late trading Thursday.
- Olaf de Senerpont Domis
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On the calendar for the week of 8/3... http://www.renaissancecapital.com/IPOHome/ipoprofile.aspx?ticker=CDCS