Sept. 28 (Bloomberg) -- Newegg Inc., the online retailer of consumer electronics and computers, plans to raise as much as $175 million in an initial public offering to expand internationally and repay loans.

Newegg plans to sell as many as 14.1 million Class A shares at a minimum price of $12.36 each, the City of Industry, California-based company said today in a regulatory filing.

The company, which says it’s the second-biggest Web- only retailer in the U.S. based on 2008 sales, joins more than 20 others that have filed for U.S. IPOs since Aug. 1. Almost $25 million will be used to build global operations and about $8.6 million to repay debt. Newegg also sells digital cameras, game consoles and computer parts made by companies including Sony Corp. and Apple Inc.

Newegg reported net income of $11.9 million, or 18 cents a share, in the first half of the year, up from $9.55 million, or 12 cents, a year earlier. Revenue in the first six months of 2009 was $1.11 billion. The company, founded in 2001, was a subsidiary of ABS Computer Technologies Inc.

J.P. Morgan Securities Inc., Merrill Lynch, Pierce Fenner & Smith Inc. and Citigroup Global Markets Inc. are managing the sale.

To contact the reporter on this story: Siddhartha Vaidyanathan in New York at svaidyanath3@bloomberg.net

Last Updated: September 28, 2009 11:16 EDT