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LIGHTINTHEBOX IPO today :stock soars 22%
Date:2013-08-24Source:新浪网

Online e-commerce site light in the box became the first Chinese company to hold its IPO in theU.S.on June 6th this year. Trading under the ticker LITB, shares rose 22.1% from $9.5 to $11.61 during the stock’s first day of trading on the New York Stock Exchange.



 

Under the transaction code LITB, the IPO issued 8,300,000 American Depositary Shares or ADS, raising shares of $78,850,000. According to its opening price, LightInTheBox is worth 0.55 billion dollars. LightInTheBox.com has been a worldwide business leader selling more than 220,000 consumer goods including apparel, home furnishing and various accessories. In 2012, the company says its almost 98% revenues are from overseas users and its main market is in European andNorth America. Compared with 36,000 users in 2008, the number of users is increased to 2.48 million in 2012.

 

LightInTheBox, whose holding company was registered in theCayman Islands, was founded in 2007 by a team including former Google China CSO Alan Guo who is also the CEO. Before it was listed, LightInTheBox had financed 5 million dollars ,$1,1270,000 and $35,000,000 in 2008, 2009 and 2010 respectively .

 

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