DangDang made a higher-than-expected $197m through its IPO with existing shareholders selling $56.75m of stock.
E-Commerce China DangDang, a China-based online book retailer part owned by media company International Data Group (IDG), completed its New York flotation above its target range to raise $272m before expenses.
Investment banks Credit Suisse and Morgan Stanley were co-lead underwriters on the initial public offering (IPO), which issued 17 million American depository shares (ADS) at $16 each, rather than in the expected $11 and $13 range, according to its regulatory filing.
The 17 million ADSs represent 85…
