VANCL PLANNING IPO IN U.S.

AsiaInfo Services
05-25-2011
VANCL Planning IPO in U.S.

BEIJING, May 25, 2011 (SinoCast Daily Business Beat via COMTEX) -- VANCL, Chinese largest independent online own label fashion apparel retailer, is planning to debut on the stock market of the United States, news said.

The company expects a fundraising of USD 1 billion from the upcoming IPO, which will then represent the ever largest IPO of an Asian enterprise listed in the capital market of the U.S. this year. Currently, VANCEL is busy selecting investment banks and it is guessed to carry out the IPO during the last three months of 2011.

Starting operation as early as 2007, the investors of VANCL mainly include IDG, SAIF Partners, Qiming Venture Partners and Ceyuan Ventures.

Recently, the stock prices of those U.S.-listed Chinese internet companies did not perform strongly. As a result, investors' evaluation on VANCL might be affected to some extent. Two days ago, Renren Inc. (NYSE: RENN) saw the closing price be 11% lower than the IPO price.

Source: www.sina.com.cn (May 25, 2011)

KEYWORD: BEIJING INDUSTRY KEYWORD: Investing & Securities SUBJECT CODE: General Industry Information
General Industry Information
SinoCast China Business Daily news
apparel retailer
internet companies
stock
IPO
fundraising

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