The Alibaba-backed e-commerce software and services provider is targeting $61.2m in an initial public offering on the Shanghai Stock Exchange.
Hangzhou Raycloud Technology, a China-based e-commerce software provider that counts e-commerce group Alibaba among its investors, is planning to raise approximately RMB433m ($61.2m) in its initial public offering, DealStreetAsia has reported.
The company intends to issue up to 40.1 million shares on the Shanghai Stock Exchange’s Star Market, priced at RMB10.80 each. China International Capital Corporation (CICC) has been appointed lead underwriter for the IPO.
Raycloud provides software and services for online merchants, assisting in areas such as marketing, customer…
