China's Dangdang files for $200m US IPO

Updated: 2010-11-18 11:14
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E-Commerce China Dangdang Inc, the Chinese equivalent of, filed with the US regulators to raise up to $200 million in an initial public offering of American Depositary Shares.

The China-based e-commerce company said in a regulatory filing that it would use the net proceeds to broaden its product categories and enhance technology infrastructure.

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Dangdang, which sells books, media products and select general merchandise categories including beauty, home and lifestyle products through its website, intends to have its ADS listed on the New York Stock Exchange under the symbol "DADA."

The online retailer had been talking about a US listing since 2006, but had delayed it due to unfavorable market conditions.

Credit Suisse, Morgan Stanley, and Piper Jaffray are among the underwriters for the IPO.