06/19/12 China's LaShou Group withdraws $75 million US IPO--news--WP+Co.,LLP

06/19/12 China's LaShou Group withdraws $75 million US IPO

LaShou Group, which is China's leading group buying, coupon social commerce website, withdrew its plans for an initial public offering on Tuesday. The Beijing, China-based company was founded in 2009 and was looking to raise $75 million by offering 5.4 million ADRs at a price range of $13 to $15. The so-called "Chinese Groupon" postponed its IPO in November 2011 due to undisclosed corporate actions. Barclays was set to be the lead bookrunner on the deal.

Source: www.RenaissanceCapital.com

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