Investors Bullish on Jumei International IPO

On Friday the IPO for Jumei International Holding Limited JMEI was released to a bullish open with some profit taking coming soon after.

 

The company priced shares at $22, an amount a tad higher than the original $19.50-$21.50 anitciapted by Jumei. The stock ended up opening at $27.25, with 9.5 million shares in circulation.

 

After opening at $27.25 the stock dipped back down to $25.52 and has since been hovering around the $25 mark. While the stock did dip down from the opening price, it is still up 13% (at last checked trade) from the $22 mark that the stock was priced at.

 

Underwriters for the IPO include Goldman Sachs (Asia), Credit Suisse, J.P. Morgan, China Renaissance Securities (Hong Kong) Limited, Piper Jaffray & Co. and Oppenheimer & Co. Inc.

 

Jumei as stated by the company is "China’s No. 1 online retailer of beauty products as measured by gross merchandise volume."

 

Shares of Jumei International Holding Limited are trading up 13.3 percent to $24.93 from the priced value per share of $22 at last checked trade.

Posted In: NewsIPOsMovers
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