|Back to main|
Chinese online marketplace 58.com files for a $150 million IPO
By: Renaissance Capital
58.com, a online marketplace serving local merchants and consumers in China, filed on Friday with the SEC to raise up to $150 million in an initial public offering. The Beijing, China-based company, which was founded in 2005 and booked $107 million in sales for the 12 months ended June 30, 2013, plans to list on the NYSE under the symbol WUBA. 58.com initially filed confidentially on July 30, 2013. Morgan Stanley, Credit Suisse and Citi are the joint bookrunners on the deal. No pricing terms were disclosed.