As one of the leading internet companies in China, Sogou successfully listed in the New York Stock Exchange on November 9, 2017 EST. The company raised US$585 million (does not account for the greenshoe option) through this transaction, which marks one of the largest initial public offerings for Chinese companies listed in the U.S. this year. China International Capital Corporation (CICC) acted as a joint bookrunner in this deal.

Sogou IPO was priced at US$13 per American depository share (ADS), which is at the high end of expected price range. The share price rose 3.85% on the first day of trading, with closing price at US$13.5, valuing the company at US$5.29 billion.

Sogou is an innovator in search and a leader in China’s Internet industry. Sogou Search is the second largest search engine in China by mobile queries, and Sogou is the fourth largest Internet company in China based on MAU in September 2017, according to iResearch. The industry-leading Sogou Input Method, the robust ecosystem Sogou has built and shared with Tencent and other strategic partners, and the significant breakthroughs in AI have uniquely positioned Sogou to capture opportunities in China’s search and Internet industry.