LightInTheBox Holding Co Ltd (LITB): LITB. First Chinese IPO of 2013 surges 2...

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Thursday, 06/06/2013 7:24:13 PM

Thursday, June 06, 2013 7:24:13 PM

LITB. First Chinese IPO of 2013 surges 20%

After a six-month drought, the year's first Chinese company made its U.S. stock market debut Thursday.

Shares of Beijing-based Internet retailer LightInTheBox (LITB) surged 22% above their initial public offering price of $9.50.

Only two Chinese companies went public in the United States last year. That's down from a dozen in 2011 and 40 in 2010.

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%.

LightInTheBox's IPO will help the company speed up its international expansion throughout the United States and Europe. t is a very fast-growing company with a vast and diverse product list. It's a comparable model to Amazon (AMZN, Fortune 500) in a smaller size.
http://money.cnn.com/2013/06/06/investing/chinese-ipo-lightinthebox/index.html