Chinese online beauty products retailer Jumei International (JMEI) put on its best face Friday for its initial public offering, setting the stage for bigger Chinese e-commerce IPOs to come. Business-to-consumer sales via the Internet are growing about 70% annually in China, according to Bain & Co. E-commerce in the nation, the world’s most populous, is booming with the maturation of the Internet. China now has about 617.6 million
Chinese online beauty products retailer Jumei International (JMEI) put on its best face Friday for its initial public offering. Jumei sold 11.14 million shares at 22 each, above the high end of its expected range, raising $245 million. Jumei stock opened at 27 then settled back near 24 in midday trading on the stock market today. In a second IPO Friday, TrueCar (TRUE) sold 7.77 million shares at 9, below the expected 12-14 range. TrueCar stock was
Jumei International (JMEI), China’s largest online beauty products retailer, priced its U.S. initial public offering above the expected price range, signaling solid demand ahead of Friday’s trading debut. Has investor appetite for growth new issues returned? Jumei sold 11.14 million shares at 22 each, above the range of 19.50-21.50. The company raised $245.1 million its IPO. Jumei revenue more than doubled to $483 million in 2013, turning a profit