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10-02-2011, 05:16 PM #1
Biggest Internet IPO in U.S. History Planned by Chinese Firm
Biggest Internet IPO in U.S. History Planned by Chinese Firm
By Gene J. Koprowski
Published October 02, 2011
FoxNews.com
A Chinese retailer nicknamed "the Asian Amazon.com" plans a $5 billion initial public offering in the U.S. -- while American firms like Facebook and Groupon have delayed or dropped plans to go public.
It could be a big risk, as many industry analysts believe the recent dotcom bubble is over. But it's easier, for a number of reasons, for a tech firm to go public in China than in the U.S. these days.
360Buy.com, owned by Beijing Jingdong Century Trading Co., sells cameras, cell phones, computers and the like to the billion-strong Chinese market. And just as in the go-go 1990s, big investors are salivating at its potential market value: The Walton family (think Wal-Mart) recently invested in the site.
“It will be the biggest tech IPO ever,â€NO AMNESTY
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