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Vancl plans ipo in the us

Vancl plans ipo in the us Source: english.ctei.gov.cn
Date: 01-03-2012
Visits: 235
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Vancl.com, a leading Chinese clothing e-tailer, plans to raise $1 billion from a US IPO in Q4 2011, Thomson Reuters reported. The amount is likely to be the largest ever of a Chinese Internet company's initial stock sale. Vancl was founded in 2007 and has lured funding from IDG, Ceyuan Ventures, SAIF Partners and Qiming Venture Partners. Its CEO Chen Nian said earlier this week that he expected the site's revenue to triple to ¥2 billion this year.

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