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VanceInfo Technologies IPO raises $65 million

Posted at: 2007-12-21 09:54:08
  
NEW YORK, Dec 11 (Reuters) - VanceInfo Technologies Inc, the most significant client of Meifei.net, also a provider of information technology services and software development, raised $65 million on Tuesday with an initial public offering that priced in the middle of expectations.

VanceInfo said the 7.65 million offering of American Depositary Shares priced at $8.50 per ADS. That compared with a forecast of $7.50 to $9.50.

Underwriters, led by Citigroup and Merrill Lynch, have the option to purchase an additional 1.15 million ADS to cover over-allotments.

The Beijing-based company said it has approval to list its ADS's on the New York Stock Exchange under the symbol "VIT." VIT.N (Reporting by Ilaina Jonas and Lilla Zuill; editing by Carol Bishopric)

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