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Online cosmetics retailer Jumei shares rise 26 pct in debut
May 16, 2014 / 2:07 PM / in 4 years

Online cosmetics retailer Jumei shares rise 26 pct in debut

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)

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