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UPDATE 1-Chinese search engine Sogou's US IPO priced at $13/ADS

UPDATE 1-Chinese search engine Sogou's US IPO priced at $13/ADS
From Reuters - November 8, 2017

(Reuters) - Sogou Inc (SOGO.N), Chinas second-largest search engine, said its initial public offering was priced at $13 per American Depositary Share (ADS), raising $585 million, .

The 45 million ADS offering, with each ADS representing one Class A ordinary share, was priced at the top end of the expected range of $11-$13.

The stock will be listed on the New York Stock Exchange on Thursday under the symbol SOGO.

Chinese tech giant Tencent Holdings (0700.HK), a major Sogou shareholder, uses Sogou Search as the default search engine in its Mobile QQ browser and qq.com site.

Sogou is a unit of Chinas Sohu.com Inc (SOHU.O), an internet service company that includes search and gaming platforms. Sohu.com will remain as Sogous controlling shareholder after the IPO.

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