Renren Inc. Announces Exercise of Green Shoe Option

2011-05-05 21:30:00


BEIJING, May 5, 2011

Renren Inc. ("Renren" or the "Company") (NYSE: RENN), a leading real name social networking internet platform in China, today announced that the underwriters of its initial public offering exercised their over-allotment option in full to purchase an additional 7,965,000 American depositary shares ("ADSs") from Renren at the initial public offering price of US$14.00 per ADS, less the underwriting discount. With this exercise, the initial public offering totaled 61,065,000 ADSs, each representing 3 Class A ordinary shares of the Company


These ADSs started trading on the New York Stock Exchange on May 4, 2011, under the symbol "RENN". Of the 53,100,000 ADSs being offered, 42,898,711 ADSs have been offered by Renren and 10,201,289 ADSs by the selling shareholders.

Morgan Stanley, Deutsche Bank Securities Inc. and Credit Suisse Securities (USA) LLC acted as global coordinators, BofA Merrill Lynch and Jefferies & Company, Inc. acted as joint bookrunners, and Pacific Crest Securities LLC and Oppenheimer & Co. Inc. acted as co-managers, for the offering.

Renren's registration statement relating to the initial public offering has been filed with, and declared effective by, the United States Securities and Exchange Commission. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of these securities, in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering of the securities is made only by means of a prospectus forming a part of the effective registration statement. A copy of the prospectus relating to the offering may be obtained by contacting Morgan Stanley & Co. Incorporated, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, United States, by calling +1-866-718-1649 or by emailing; by contacting Deutsche Bank Securities Inc., Attn: Prospectus Department, 100 Plaza One, Jersey City, NJ 07311, by calling 1-800-503-4611 or by emailing; and by contacting Credit Suisse Securities (USA) LLC, Attn: Prospectus Department, One Madison Avenue, New York, NY 10010-3629, by calling 1-800-221-1037 or by emailing (calling these numbers is not toll-free outside the United States).

About Renren

Renren Inc. operates the leading real name social networking internet platform in China as measured by total page views and total user time spent on social networking websites in February 2011, based on data issued in March 2011 by iResearch. It enables users to connect and communicate with each other, share information and user generated content, play online games, listen to music, shop for deals and enjoy a wide range of other features and services. Renren's platform includes the main social networking website, the online games center, the social commerce website, and the newly launched professional and business social networking service website

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