WoWo (WOWO) IPO Opens Up 10%

Today's IPO for WoWo Ltd. (Nasdaq: WOWO) opened for trading at $11.06 after pricing 4,000,000 American depositary shares ("ADSs"), each representing 18 ordinary shares of the Company, at $10 per ADS.

In addition, WoWo granted the underwriters a 30-day option to purchase up to an additional 600,000 ADSs. All of the 4,000,000 ADSs in the offering are being offered by WoWo. The total gross proceeds of the offering are expected to be $40 million, assuming the underwriters do not exercise their option to purchase additional ADSs. Axiom Capital Management, Inc. acted as Representative of several underwriters, which included ViewTrade Securities, Inc., Dawson James Securities, Inc., Newbridge Securities Corporation, and The Benchmark Company, LLC. FT Global Capital, Inc. acted as an advisor to the transaction.

WoWo Ltd. ("WoWo") operates China's leading e-commerce platform on both www.55.com and our mobile applications, focusing on local entertainment and lifestyle services such as restaurants, movie theaters and beauty salons. We help merchants create their own online stores to make direct sales. We do not engage in direct sales. We provide a one-stop platform where merchants make direct sales, price dynamically and achieve customer management. As of September 30, 2014, we had 105,430 merchant clients featuring over 430,000 service offerings, 34.1 million subscribers and 17.3 million activated WoWo Mobile App installed on mobile devices.

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