Chinese online-video company, Youku, will raise around $600 million through the sale of American depositary receipts (ADRs), The Wall Street Journal reports. The offering will mainly be shares issued by the company, with the secondary shares being sold by pre-IPO investors, from which Youku will not gain any proceeds. Youku will use these proceeds for technology, infrastructure and content acquisition and other investments. Goldman Sachs, also the sole book-runner for the IPO, will arrange the offering, adds FinanceAsia.

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