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55tuan said to be planning US listing

(Global Times)

08:42, January 12, 2012

Chinese group-buying website 55tuan.com is planning a listing on the Nasdaq, from which it is expected to raise between $100 million and $200 million.

An insider from the company said that the IPO was originally planned to be launched in 2011, but was postponed due to investor concerns over accounting problems with Chinese companies and a potential bubble in Internet stocks.

Currently, the company is still examining market conditions, and awaiting the proper time for issuance, the insider said.

55tuan competitor, lashou.com, delayed its $80 million IPO on the Nasdaq last November.

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