IPO values Tudou at $3.2bn

Tudou has priced its initial public offering in New York, raising $174 million in a deal that valued the Chinese streaming video website at $3.2 billion.

The offering is of six million shares priced at $29 each. The shares will begin trading on the Nasdaq market this week.

Tudou originally filed for its IPO in November 2010 but had to delay the offering over a legal dispute between Gary Wang, chief executive, and his ex-wife over company assets. That delay allowed Youku, Tudou’s larger rival, to pull ahead quickly. Youku raised $203 million in an IPO last December and another $670 million in a secondary offering this year.

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