China’s LightInTheBox raises $79m through US IPO
VC-backed Chinese online retailer LightInTheBox saw its stock jump 22% on its first day of trading in New York, following an IPO that raised $79 million. It is the first Chinese company to go public in the US this year, and only the second to make the jump in the last 12 months.
The offering was priced at $9.50 per share - the mid point of the indicative range - and then the stock closed at $11.60 on Thursday. The company filed its IPO application in April, planning to sell 8.3...
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