Jumei.com seeks US IPO

Online cosmetics retailer Jumei.com hires Credit Suisse and Goldman Sachs to manage public offering.

Online cosmetics retailer Jumei.com hired Credit Suisse and Goldman Sachs to manage an initial public offering valued at up to US$600m in the US, joining other Chinese firms looking to raise funds there as technology company valuations soar, according to Reuters.

Jumei.com, which sells beauty products and perfumes, is expected to launch its IPO in the first half of 2014, Thomson Reuters publication IFR reported, citing a source familiar with the plans.

JD.com Inc, China's second-biggest e-commerce firm after Alibaba Group Holding, last month filed to raise $1.5bn in what would be the second-biggest ever US IPO by a Chinese company, Reuters said.

Alibaba is also expected to go public before next year.

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