Beijing – Chinese file-sharing service Xunlei has filed to
raise up to $200 million in an initial public offering (IPO) in the U.S.,
Bloomberg reported.
The firm, which is partly owned by Google, has reportedly
hired JPMorgan Chase and Deutsche Bank as underwriters.
Xunlei, which offers
music, video and games on its service, counted some 190 million online video
users at the end of 2010, according to Analysys.
The company was sued for
copyright infringement by movie studios represented by the Motion Picture
Association of America (MPAA) in China in 2008, which sought $975,000 in
damages and a public acknowledgement that the company was facilitating
copyright infringement.
In a separate case that year, Xunlei agreed to pay
$21,000 in damages for illegally distributing a Chinese film.
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(Bloomberg)
