BEIJING, May 5, 2011 /PRNewswire-Asia/ -- Youku.com Inc.
(NYSE: YOKU) today announced it intends to file a registration
statement with the United States Securities and Exchange Commission
(the "SEC") on or about May 5, 2011
(U.S. Eastern Time) relating to a proposed offering of its American
depositary shares ("ADSs") by Youku and certain of its pre-IPO
investors. The amount and timing of the proposed offering are
subject to market conditions and other factors.
The majority of the offering will likely be primary shares to be
issued by Youku with the rest being secondary shares to be
sold by certain pre-IPO investors. The purpose of the offering is
to provide additional capital to Youku for investments in
technology, infrastructure and product development efforts, video
content acquisition, expansion of sales and marketing efforts, and
general corporate purposes, including working capital needs and
potential strategic acquisitions or investments. The offering will
also provide for greater liquidity of the ADSs in the market by
increasing the public float as well as providing an opportunity for
certain pre-IPO investors to obtain liquidity on part of their
holdings in Youku in an organized fashion. Youku will not receive
any proceeds from the sale of the ADSs by the selling shareholders.
The number of ADSs to be issued and sold by Youku and the selling
shareholders will be determined at an appropriate later date and
will be reflected in an amendment to the registration statement to
be filed with the SEC. Each ADS represents 18 of Youku's
Class A ordinary shares.
A registration statement relating to these securities has not
been filed with the SEC and, if filed, will not immediately become
effective. The ADSs may not be sold, nor may offers to buy be
accepted, prior to the time the registration statement relating to
the proposed offering becomes effective.
This press release shall not constitute an offer to sell, or a
solicitation of an offer to buy, the securities described herein,
nor shall there be any offer, solicitation or 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.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates" and similar statements. Youku may also make
written or oral forward-looking statements in its filings with the
SEC, in its annual report to shareholders, in press releases and
other written materials and in oral statements made by its
officers, directors or employees to third parties. Statements that
are not historical facts, including statements about Youku's
beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement, including but not limited to the following: our goals
and strategies; our future business development, financial
condition and results of operations; the expected growth of the
online video market in China; our
expectations regarding demand for and market acceptance of our
services; our expectations regarding the retention and
strengthening of our relationships with key advertisers and
customers; our plans to enhance user experience, infrastructure and
service offerings; competition in our industry in China; and relevant government policies and
regulations relating to our industry. Further information regarding
these and other risks is included in our registration statement on
Form F-1 to be filed with the SEC, as amended from time to time.
All information provided in this press release and in the
attachments is as of the date of this press release, and Youku does
not undertake any obligation to update any forward-looking
statement, except as required under applicable law.
For more information, please contact:
Investor Relations:
Ryan Cheung
Corporate Finance Director
Youku.com Inc.
Tel: (+8610) 5885-1881 x6090
Email: ryan.cheung@youku.com; or
Caroline Straathof
IR Inside
Tel: (+31) 6-54624301
Email: caroline.straathof@irinside.com
SOURCE Youku.com Inc.