GUANGZHOU, China, Aug. 16, 2017 (GLOBE NEWSWIRE) -- YY Inc. (Nasdaq:YY) (“YY” or the “Company”), a leading live
streaming social media platform in China, today announced the pricing of 5,750,000 American depositary shares (the “ADSs”), each
representing 20 Class A common shares of the Company (the “ADS Offering”), at US$70.00 per ADS. The Company has granted the
underwriters in the ADS Offering a 30-day option to purchase up to an additional 862,500 ADSs to cover over-allotments, if any.
Credit Suisse Securities (USA) LLC, Goldman Sachs (Asia) L.L.C. and China Renaissance Securities (Hong Kong) Limited are acting
as the joint book-running managers for the ADS Offering.
The Company expects to close the ADS Offering on or about August 21, 2017, subject to the satisfaction of customary closing
conditions.
The ADS Offering is being made only by means of a prospectus supplement and an accompanying prospectus included in a
registration statement on Form F-3 filed with the U.S. Securities and Exchange Commission (the “SEC”) on August 14, 2017, which
automatically became effective upon filing. Copies of the prospectus supplement and the accompanying prospectus relating to the ADS
Offering may be obtained from Credit Suisse Securities (USA) LLC, Attention: Prospectus Department at Eleven Madison Avenue, New
York, New York 10010-3629 or by telephone at +1 (800) 221-1037, Goldman, Sachs & Co. LLC, 200 West Street, New York, NY 10282,
Attention: Prospectus Department (telephone: +1 (212) 902-1171; e-mail: prospectus-ny@ny.email.gs.com), or China Renaissance Securities (Hong Kong) Limited, Unit
8107-08, Level 81, International Commerce Centre, 1 Austin Road West, Kowloon, Hong Kong (telephone: +852 2287 1600).
The Company plans to use the net proceeds from the ADS Offering for (i) general corporate purposes, which may include
acquisitions of and investments in complementary businesses and assets, and expansion of our overseas business operations, and (ii)
repayment of existing bank loans.
This press release shall not constitute an offer to sell or a solicitation of an offer to purchase any securities, nor shall
there be a sale of the securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.
This press release contains information about the pending offering of the ADSs, and there can be no assurance that the offering
will be completed.
About YY Inc.
YY Inc. (“YY” or the “Company”) is a leading live streaming social media platform in China. The Company’s highly engaged users
contribute to a vibrant social community by creating, sharing and enjoying a vast range of entertainment content and activities. YY
enables users to interact with each other in real-time through online live media and offers users a uniquely engaging and immersive
entertainment experience. YY Inc. was listed on the NASDAQ in November 2012.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,”
“expect,” “anticipate,” “future,” “intend,” “plan,” “believe,” “estimate” and similar statements. YY may also make written or oral
forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other
written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not
historical facts, including statements about YY’s beliefs and expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those
contained in any forward-looking statement, including but not limited to the following: YY’s goals and strategies; YY's future
business development, results of operations and financial condition; the expected growth of the online communication social
platform market in China; the expectation regarding the rate at which to gain active users, especially paying users; YY’s ability
to monetize the user base; fluctuations in general economic and business conditions in China and assumptions underlying or related
to any of the foregoing. Further information regarding these and other risks is included in YY’s filings with the SEC. All
information provided in this press release and in the attachments is as of the date of this press release, and YY does not
undertake any obligation to update any forward-looking statement, except as required under applicable law.
Investor Relations Contact YY Inc. Yuffie Fu Tel: (+86) 2029162000 Email:IR@YY.com ICR, Inc. Xueli Song Tel: (+1) 646 915-1611 Email:IR@YY.com
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