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Thursday, June 6, 2013

First Chinese IPO of 2013 surges 20% $LITB

Shares of Beijing-based Internet retailer LightInTheBox (LITB) surged 22% above their initial public offering price of $9.50. The two companies that went public last year, online retailer Vipshop Holdings (VIPS) and social media firm YY Inc. (YY), have been welcomed by U.S. investors. Shares of Vipshop have gained 340% from their IPO price, while YY is up 150%. "Chinese IPOs in 2012 have done very well, and there are a few more Chinese companies that want to list on the U.S. exchanges," said Scott Sweet, senior managing partner at research firm IPO Boutique. "I would envision more companies to go public in 2013."
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