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.