Chinese Version of Amazon (AMZN) Looks to Set Record IPO in U.S.
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Eschewing the Chinese stock exchanges in favor of America, China's version of Amazon.com (Nasdaq: AMZN) may be looking to set a record.
Google (Nasdaq: GOOG) currently holds the record for the largest U.S. Internet IPO at $1.9 billion, according to the WSJ. Soon, Beijing-based Jingdong Mall is aiming to bring a $5 billion IPO to the US.
Like Amazon, Jingdong sells a variety of goods from high heels to PCs. It operates more formally under the URL 360buy.com in China. Jingdong is expected to pick bankers after meetings next week.
There are a few things going against Jingdong right now: aversion to invest in Chinese firms and a flat IPO market. Those things may change by the time Jingdong is ready to launch its offering sometime in 2012.
Jingdong has 25 million registered users, receives 50 million daily page views, and takes 300,000 orders per day, according to the company.
The WSJ notes Hong Kong was the world's largest IPO market in 2009 and 2010 by volume. The last U.S. IPO for more than $4 billion was HCA, Inc., a hospital operator which launched it's public shares in March.
Amazon shares are trading 1.1 percent lower Friday.
Google (Nasdaq: GOOG) currently holds the record for the largest U.S. Internet IPO at $1.9 billion, according to the WSJ. Soon, Beijing-based Jingdong Mall is aiming to bring a $5 billion IPO to the US.
Like Amazon, Jingdong sells a variety of goods from high heels to PCs. It operates more formally under the URL 360buy.com in China. Jingdong is expected to pick bankers after meetings next week.
There are a few things going against Jingdong right now: aversion to invest in Chinese firms and a flat IPO market. Those things may change by the time Jingdong is ready to launch its offering sometime in 2012.
Jingdong has 25 million registered users, receives 50 million daily page views, and takes 300,000 orders per day, according to the company.
The WSJ notes Hong Kong was the world's largest IPO market in 2009 and 2010 by volume. The last U.S. IPO for more than $4 billion was HCA, Inc., a hospital operator which launched it's public shares in March.
Amazon shares are trading 1.1 percent lower Friday.
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