E-Commerce China Dangdang, which is a leading e-commerce platform operator in China with six million active customers, announced terms for its IPO on Tuesday. The Beijing-based company plans to raise $204 million by offering 17 million ADSs at a price range of $11-$13. At the mid-point of the proposed range, E-Commerce China Dangdang will command a market value of $935 million. E-Commerce China Dangdang, which was founded in 2000 and booked $218 million in sales last year, plans to list on the NYSE under the symbol DANG. Credit Suisse and Morgan Stanley are the lead underwriters on the deal, for which timing was not disclosed.
