Market Overview

Investors Bullish On Jumei International IPO

Related JMEI
Baozun Initiated At Overweight By Morgan Stanley; Firm Digs Into 'Sweet Spot In China eCommerce'
Wednesday's After-Hours Movers: Five Below, FireEye And More
Stocks Lower As Rebound Gives Way; China Issues Slide, Bassett Rises (Investor's Business Daily)

On Friday, the IPO for Jumei International (NYSE: JMEI) was released to a bullish open with some profit taking coming soon after.

The company priced shares at $22, an amount slightly higher than the original $19.50-$21.50 anticipated 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 Shares were still up 13 percent (at last check) 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 and Oppenheimer.

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 were trading up 13.5 percent to $24.97 from the priced value per share of $22 at last check.

Posted-In: China Renaissance Securities Credit Suisse Goldman JP Morgan OppenheimerNews IPOs Movers


Related Articles (JMEI)

Around the Web, We're Loving...

Get Benzinga's Newsletters