Made-in-China.com to Raise RMB 1.2 Bln in IPO

Shanghai Business Daily, 12/04/09

Nanjing-based Focus Technology Group, the company behind B2B e-commerce site Made-in-China.com, has announced that it will list on the A-shares market at a price of RMB 42 per share, with plans to raise RMB 1.2 bln. Focus chairman and GM Shen Jinhua owns nearly 80% of shares in the company, giving him an instant personal value of more than RMB 2.9 bln once the company lists - more than Jack Ma, president of rival Alibaba.

Made-in-China.com will use RMB 70 mln of the funds raised for its "Made-in-China.com E-commerce Platform Upgrade" project, more than RMB 90 mln to expand its sales channels, and more than RMB 60 mln for investment in service support and the construction of an R&D center.

Editor's Note: The company will list on the Shenzhen Stock Exchange under the ticker 002315.SZ.

Keywords: Shen Jinhua Made-in-China Focus Technology Jack Ma B2B e-commerce Internet IPO Alibaba A-share Shenzhen Stock Exchange 002315.SZ

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