5 Things You Should Know About Secoo's IPO
Chinese luxury e-tailer Secoo plans to raise roughly $100 million in its upcoming IPO, which will offer 8.5 million ADS (American depositary shares) between $11.50 and $13.50 per share. It plans to trade on the Nasdaq under the ticker SECO.
The Hong Kong-based company was founded in 2008 and entered the online luxury e-commerce market in 2011. A recent report by Exane BNP Paribas lists Secoo as one of China's "local champions" of the luxury market alongside Alibaba's (NYSE: BABA) Tmall, JD.com (NASDAQ: JD), and Tencent's (NASDAQOTH: TCEHY) WeChat.
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Source: Fool.com
