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Newegg t isk o launch US IPO, eyes China expansion
发起人：xuzh63　　回复数：0　　浏览数：2433　　最后更新：2011/11/23 12:50:33 by xuzh63

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2011/11/23 12:45:24
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Newegg t isk o launch US IPO, eyes China expansion
Newegg t isk o launch US IPO, eyes China expansion

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Newegg to launch US IPO, eyes China expansionPublished: 30 Sep 2009 18:26:16 PST<p class="authorInfor"]</p]<!--begin CK content--]<ul class="narrow"]Top 5 News From ChinaKnowledge.comInnovation Works may invest in Chongqing17 wind farms to be built in YunnanEverbright Securities to launch new energy industry fundOrient Group to issue RMB 1.5 bln in corporate bondsChina's software industry sees 21% growth in revenue in Jan-Aug<P]Oct. 1, 2009 (China Knowledge) - Newegg.com, a California-based online electronics retailer founded by Taiwanese immigrant Fred Chang in 2001, announced that it plans to launch an initial public offering in the U.S. in order to fund its overseas expansion, including China.</P]<P]Newegg hopes to raise up to US$175 million by offering 14.1 million shares. The issue price should be not less than US$12.36 apiece, according to the preliminary prospectus. </P]<P]However, the prospectus didn't disclose when it will launch the IPO and which exchange it will list its shares.</P]<P]JP Morgan, Bank of America Merrill Lynch, Citibank and Pierce, Fenner &amp; Smith, Inc have been hired as underwriters for the offering.</P]<P]The proceeds from the IPO offering will be partly used to repay debts. Newegg will use US$25 million of the funds to finance its expansion in China and Canada.</P]<P]The retailer recorded US$54.4 million of sales in the first half of this year in China, accounting for 5% of total sales. </P]<P]Newegg realized US$2.1 billion of net sales in 2008, compared with US$1.9 billion in 2007.<BR]</P]
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