LightInTheBox (LITB) IPO Lights-Up Wall Street
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The IPO for China-based LightInTheBox Holding (NYSE: LITB) lit up Wall Street Thursday. Shares of the online retailer closed at $11.61 in its debut, up 22.2% from the $9.50 per ADS pricing. The company sold 8,300,000 ADSs in the offering.
Credit Suisse and Stifel acted as joint bookrunners and Pacific Crest Securities, Oppenheimer & Co. and China Renaissance Securities acted as co-managers for the offering.
LightInTheBox is a global online retail company that delivers products directly to consumers around the world. The Company offers customers a convenient way to shop for a wide selection of lifestyle products at attractive prices through its www.lightinthebox.com website and through its other websites, which are available in 17 major languages and cover more than 80% of global Internet users. In 2012, the Company ranked number one in terms of revenue generated from customers outside of China among all China-based retail websites that source products from third-party manufacturers.
Credit Suisse and Stifel acted as joint bookrunners and Pacific Crest Securities, Oppenheimer & Co. and China Renaissance Securities acted as co-managers for the offering.
LightInTheBox is a global online retail company that delivers products directly to consumers around the world. The Company offers customers a convenient way to shop for a wide selection of lifestyle products at attractive prices through its www.lightinthebox.com website and through its other websites, which are available in 17 major languages and cover more than 80% of global Internet users. In 2012, the Company ranked number one in terms of revenue generated from customers outside of China among all China-based retail websites that source products from third-party manufacturers.
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