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Rumor: 360Buy Begins US IPO Preparations

Sina Tech, 9/07/11

Beijing-based B2C e-commerce platform 360Buy reportedly plans to kick off preparations next week for an eventual IPO on a US stock exchange aimed at raising between USD 4-5 bln.

An industry source told Thomson-Reuters IFR that 360Buy plans to hold a "beauty contest" in Beijing next week to attract underwriters for an IPO tentatively slated for H1 2012.

According to another industry source, the IPO could raise more than USD 5 bln depending on the final listing date.

Editor's Note: CEO Liu Qiangdong denied the rumor on Sina's Weibo microblogging platform, saying that he himself will not be in Beijing next week.

Keywords: Liu Qiangdong e-commerce Internet IPO B2C 360buy

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