News & Bulletins

Xunlei Limited: Completed its U.S. IPO

 

Xunlei (Nasdaq: XNET), a Primavera portfolio company, went public on the NASDAQ on June 24, 2014. Xunlei is the largest online cloud acceleration services provider in China. It is headquartered in Shenzhen and offers cloud acceleration services, online video services, and other internet value-added services.  According to iResearch, as of March 2014, Xunlei enjoys a market share of 84.1% among online acceleration products in China, with approximately 142 million monthly active users and approximately 204 million monthly unique visitors, and is one of the top 10 largest Chinese internet companies, as measured by user base. Xunlei’s IPO was priced above the range at US$12/ADS. The close price on the first trading day soared by 24.17% above the offering price and the total market capitalization was approximately US$1.03billion. Primavera invested in Xunlei in Febuary, 2012 and held a board seat.