Perspectives
The owner of China’s 360buy.com aims to raise at least $2 billion in an initial public offering in the U.S. in 2013 or later, its chief executive officer said, in a sign of booming growth and intensifying competition in China’s online retail market.
The remarks come as a wave of Chinese Internet companies have sought listings in the U.S. in recent months, raising concern among some observers about a possible bubble. A $2 billion IPO would be big even by the standards of recent Chinese listings. A 360buy rival, E-Commerce China Dangdang Inc., raised $272 million from investors ahead of a December listing on the New York Stock Exchange.