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-AdChina names Goldman Sachs, Credit Suisse IPO underwriters.

BANKING AND CREDIT NEWS-February 20, 2012--AdChina names Goldman Sachs, Credit Suisse IPO underwriters(C)2012 M2 COMMUNICATIONS

20 February 2012 - Goldman Sachs (Asia) LLC and Credit Suisse (NYSE:CS) have been selected to underwrite the initial public offering (IPO) of AdChina Ltd, the Chinese online advertising firm said on Friday.

According to the company's filing with the US financial regulator, it will seek to pocket up to USD100m (EUR76m) via listing American depositary shares (ADSs) on the Nasdaq.

AdChina plans to float under the ADCN symbol, with proceeds to go for backing its investments in software and technology, as well as purchasing equipment and domestic expansion.

However, the number of stocks to be placed in this offering and the price range are yet to be determined.

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Publication:M2 Banking & Credit News (BCN)
Date:Feb 20, 2012
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