IPO News Archive
Lentuo International prices IPO at $8, the low end of the revised range
Lentuo International, an automobile retailer in Beijing with six dealerships, raised $52 million by offering 6.5 million ADSs at $8, at the low end of the revised range of $8-$10. The company had originally planned to offer 7.5 million ADSs at a range of $11.50 to $13.50. Lentuo International plans to list on the NYSE today under the symbol LAS. Cowen & Company and HSBC Corporation acted as lead managers on the deal.