ISSUANCE OF ORDINARY SHARES

12 Months Ended

Dec. 31, 2016

ISSUANCE OF ORDINARY SHARES [Abstract]

ISSUANCE OF ORDINARY SHARES

28. ISSUANCE OF ORDINARY SHARES

The Company’s authorized share capital is US$10,000 comprising 500,000,000 ordinary shares with a par value of US$0.00002 each. On January 22, 2014, the Company closed a follow-on public offering of 15,000,000 ordinary shares (3,750,000 ADSs) and received aggregated net proceeds of approximately $126.3million, after deducting discounts and commissions but before offering expenses.

As of December 31, 2015 and 2016 the Company’s issued and outstanding shares were 125,473,930 and 126,733,266, respectively.