Deals
China’s Mecox Lane Surges After $129 Million U.S. IPO
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Mecox Lane Ltd. raised $129 million pricing its initial public offering above the forecast range in the latest sign of surging demand for U.S. IPOs of Chinese Internet companies. The shares rallied 57 percent.
The Shanghai-based online retailer sold 11.7 million American depositary receipts for $11 each yesterday, after offering them at $8 to $10 apiece, a filing with the Securities and Exchange Commission and a company statement showed. Mecox Lane climbed $6.26 to $17.26 in Nasdaq Stock Market trading.