Dangdang plans to raise up to US $ 200 million for listing on the New York Stock Exchange (VC283)

Chinese e-commerce website Dangdang.com submitted an IPO application to the American Stock Exchange on November 17 and plans to list on the New York Stock Exchange. It will issue up to US $ 200 million of American Depositary Shares (ADS).

The initial application submitted by Dangdang did not disclose the price and quantity of the specific issue. Dangdang will use "DADA" as the stock symbol.

The raised funds will be mainly used to expand the categories of exhibits and operational capabilities, and at the same time strengthen the future basic technology construction, and the remaining funds will be used for daily operations and potential acquisition plans.

Credit Suisse and Morgan Stanley will serve as lead underwriters for Dangdang's IPO.

According to the data disclosed in the prospectus, Dangdang in 2007 and 2008 lost 70.511 million yuan and 81.757 million yuan respectively. Since 2009, it has achieved a profit of 16.916 million yuan. In the first nine months of 2010, Dangdang achieved a net profit of 15.98 million yuan. The loss was 5.233 million yuan.

In terms of operating income, the net revenues in the three years from 2007 to 2009 were 447 million yuan, 766 million yuan and 1.458 billion yuan, respectively. They grew rapidly. In the first three quarters of 2010, the net revenue was 1.571 billion yuan, an increase of 55.54% over the same period in 2009 .

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