The successful NYSE debut of LightInTheBox, a Beijing-based online retailer and the first Chinese company to go public in the US this year, has lifted hopes that the deep gloom surrounding Chinese offerings in America might be over.
Bankers hope that, after two years of accounting scandals and critical reports from short-sellers, Chinese companies are ready to return to the US for capital – and that American investors are ready to receive them.
Trading under the ticker LITB, the newly-listed company saw its shares rise 22.2 per cent over the issue price to $11.61 in the first day. LITB raised a total of $78.85m by issuing 8.3m American depositary shares (ADSs) at a price of $9.5 per ADS.
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