YY Inc. (YY) Prices 7.8M ADS IPO at $10.50 Each

YY Inc. (Nasdaq: YY) announced that it has priced its initial public offering ("IPO") of 7,800,000 American depositary shares ("ADSs"), with each ADS representing twenty Class A common shares of the Company, at US$10.50 per ADS, with a total offering size of approximately US$81.9 million, assuming the underwriters do not exercise their option to purchase additional ADSs. The ADSs are expected to begin trading on the NASDAQ Global Market on November 21, 2012 under the symbol "YY."

As part of the IPO, the Company has granted the underwriters an option, exercisable within 30 days from the date of the final prospectus, to purchase up to an additional 1,170,000 ADSs at the IPO price, less the underwriting discounts.

Morgan Stanley & Co. International plc ("Morgan Stanley"), Deutsche Bank Securities Inc. ("Deutsche Bank") and Citigroup Global Markets Inc. ("Citigroup") acted as joint bookrunners and Pacific Crest Securities LLC and Piper Jaffray & Co. acted as co-managers for the IPO.

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