Shares of China-based video site Tudou Holdings (TUDO.NASDAQ) fell 11.9% on the company’s first day of trading on Wednesday to close at $25.56, MarketWatch reported. Tudou sold 6 million American depositary receipts on Tuesday at US$29, the mid-point of its offering range, with Credit Suisse (CS.NYSE), Deutsche Bank Securities (DB.NYSE) and Oppenheimer & Co. (OPY.NYSE) as its underwriters. Tudou offers user-generated videos similar to Google’s (GOOG.NASDAQ) YouTube and Chinese rival Youku.com (YOKU.NYSE), which went public in the US in December. Tudou’s registered user base and revenue have surged in recent years but its losses have widened as costs for bandwidth and content increase. Tudou is the lone company to go public this week after market turmoil led to a string of failed deals last week.