S&P 500
7,290.40
+0.19%
Dow Jones
49,435.90
+0.24%
Nasdaq 100
28,249.00
+0.47%
Russell 2000
2,849.27
+0.27%
FTSE 100
10,334.50
+0.68%
Nikkei 225
61,025.00
+0.50%

Investing

Chinese E-commerce Company IPO Lights It Up

Photo of Paul Ausick
By Paul Ausick Updated Published
Follow 24/7 Wall St. on Google
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Online shopping
Thinkstock
China-based online retailer LightInTheBox Holding Co. Ltd. (NYSE: LITB) held its initial public offering (IPO) this morning, and the company’s shares have popped. LightInTheBox offered 19.09 million shares priced at $9.50 each, the middle of the expected range. The company expected net proceeds of approximately $79 million. One ADS is equal to two ordinary shares.

The underwriters, Credit Suisse, Stifel Nicolaus and Oppenheimer, have an option on an additional 1.05 million ADS.

Though based in China, the company sells its goods globally on websites produced in 17 languages. LightInTheBox claims to reach more than 80% of global Internet users. Net revenues have risen from $6.3 million in 2008 to $200 million in 2012 and $73.3 million in the first quarter of this year.

Following the IPO the company will have 98.3 million shares outstanding, if the underwriters exercise their overallotment option. LightInTheBox plans to use the proceeds to finance its business operation, including fulfillment and technology infrastructure, product offerings, paying down debt and customer acquisition and brand building.

Based on today’s IPO, the company’s market value is around $465 million.

Shares are trading up 26.7% at $12.04 shortly before noon today.

Photo of Paul Ausick
About the Author Paul Ausick →

Paul Ausick has been writing for a673b.bigscoots-temp.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

Continue Reading

Paul Ausick |

IPOs Continue to Surge

ThinkstockLast week, there were 11 initial public offerings (IPOs) scheduled, and 10 made it through. For the coming week, we’ve…
Paul Ausick |

There Is Never a Wrong Time to Issue More Tesla Stock

The latest secondary stock offering from Tesla Motors was perhaps even a bigger success than expected.
Paul Ausick |

This Week’s IPOs: JD.com, SunEdison Semiconductors, Parsley Energy, Five Others

ThinkstockThe coming week is another busy one for initial public offerings (IPOs) with eight scheduled to price and begin trading…
Milacron Files for Secondary Offering
Chris Lange |

Milacron Files for Secondary Offering

Milacron has filed with the SEC regarding a secondary offering, though no pricing details were given in the filing.
Paul Ausick |

IPO Preview: A Blizzard of New Offerings Next Week

ThinkstockAs many as 11 companies could be holding initial public offerings (IPOs) next week. The firms run the gamut, from…
Paul Ausick |

Can Tesla Stock Withstand a Secondary Share Sale?

Tesla plans to use the net proceeds of a secondary offering to "accelerate the growth of our business in the…
Paul Ausick |

MLPs Raised $2 Billion Last Week in Secondary Offerings

Now is apparently a good time for midstream oil industry players to issue new stock.
Paul Ausick |

Big First-Day Pop for Global Blood Therapeutics IPO

A biopharmaceutical company working on developing and commercializing treatments for serious blood-based disorders priced its initial public offering (IPO) above…
OvaScience Prices Secondary Offering
Chris Lange |

OvaScience Prices Secondary Offering

OvaScience shares dropped early on Thursday after the company announced that it had priced its secondary offering of more than…

Top Gaining Stocks

Waters
WAT • Vol: 2,131,048
Intel
INTC • Vol: 198,362,091
Akamai
AKAM • Vol: 8,677,900
Micron Technology
MU • Vol: 64,268,462
Qualcomm
QCOM • Vol: 34,272,223

Top Losing Stocks

Huntington Ingalls Industries
HII • Vol: 1,746,810
Pool
POOL • Vol: 2,311,870
Aptiv
APTV • Vol: 10,166,405
Leidos
LDOS • Vol: 2,252,442
PayPal
PYPL • Vol: 39,099,369