Excitement As Chinese Ecommerce Hits Global Stockmarkets

Chinese internet retailer LightIn The Box rose by almost a quarter in its first day of trading on Thursday as investors got excited by the Far East online boom.

The increase in the price valued the stock close to $600 million. It is the second Chinese internet retailer to list on the US stock market after Vipshop in March last year. The company has quadrupled in value since. 

Chinese internet giant Alibaba Group is preparing for a massive IPO by the end of the year. It is understood to have held talks with Credit Suisse on the plan to list in Hong Kong. The issue is expected to value the firm at between $60-$100 billion and could raise $15 billion. Fees to advisers and marketing banks alone could yield $260 million.

LightIn The Box sells lifestyle products to shoppers in Europe and North America on sites including lightinthebox.com and miniinthebox.com. It will use the proceeds from the IPO to invest in its technology infrastructure, product and bond investment payments, it said.