May 16 (Reuters) - Shares of Jumei International Holding Ltd rose about 26 percent in their market debut, valuing the Chinese online cosmetics retailer at about $4.02 billion.
Jumei’s initial public offering raised about $245.1 million, after the 11.1 million American Depositary Shares (ADSs) on offer were priced at a higher-than-expected $22 per share.
The company, backed by venture-capital firm Sequoia Capital, had initially said 9.5 million ADSs would be sold and priced at $19.50-$21.50 per share in the IPO.
Jumei’s shares opened at $27.25 and touched a high of $28.28 on Friday on the New York Stock Exchange.
Goldman Sachs (Asia) LLC, Credit Suisse and J.P. Morgan were the lead underwriters for the IPO. (Reporting by Avik Das in Bangalore; Editing by Simon Jennings)