MIAMI, Feb 4 (Reuters) - Chinese mobile phone services company Hurray Holding Co. Ltd.'s initial public offering raised $70.52 million after the shares priced under the midpoint of the expected range, the company said on Friday.

Hurray's IPO priced 6.88 million American Depositary Shares at $10.25 per share, it said. The Beijing-based provider of ringtones, picture downloads and general WiFi services for Chinese mobile phone users had filed to offer 6.88 million ADSs for between $9.60 and $11.60 a share.

Each ADS represents 100 ordinary shares.

Existing shareholders were selling 255,661 ADSs, while underwriters, led by Citigroup, have the option to buy an additional 1.03 million ADSs to cover over-allotments.

Hurray is a 1999 spin-off of telecommunications equipment company UTStarcom Inc. (UTSI.O: Quote, Profile, Research) , according to its filing.

The company will list on Nasdaq under the symbol "HRAY" (HRAY.O: Quote, Profile, Research) .