Lashou delays US$100m Nasdaq IPO
By Ding Yining |
June 21, 2012, Thursday
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Print Edition
Print Edition
CHINA'S daily deal website Lashou has canceled its US$100 million initial public offering in the United States due to unfavorable market conditions.
Lashou Group Inc said this in a filing to the US Securities and Exchange Commission on Tuesday. It had planned to sell about 5.4 million shares at US$13 to US$15 apiece on Nasdaq, according to an initial prospectus filed in October.
In a research note yesterday, China e-Business Research Center said: "Lashou is not likely to sell its shares at a very high price during a weak financial market, and the sluggish performance of Groupon, the Nasdaq-listed US daily deal site, will also prevent Lashou from a good performance."
Groupon has been trading near US$11 recently, compared with the company's offering price of US$20 in November.
Lashou Group Inc said this in a filing to the US Securities and Exchange Commission on Tuesday. It had planned to sell about 5.4 million shares at US$13 to US$15 apiece on Nasdaq, according to an initial prospectus filed in October.
In a research note yesterday, China e-Business Research Center said: "Lashou is not likely to sell its shares at a very high price during a weak financial market, and the sluggish performance of Groupon, the Nasdaq-listed US daily deal site, will also prevent Lashou from a good performance."
Groupon has been trading near US$11 recently, compared with the company's offering price of US$20 in November.
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