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Yihaodian Plans to Sell Shares as Wal-Mart Supported Retaile
Yihaodian Plans to Sell Shares as Wal-Mart Supported Retaile
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Yihaodian Plans to Sell Shares as Wal-Mart Supported Retaile
Chinese online supermarket, Yihaodian whose investors include Wal-Mart Inc.(NYSE:WMT), will possibly want a U.S. initial public offering as it develops facing Chinese rivals.Chairman and co-founder of Yihaodian, Yu Gang plans to "most likely" sell shares to the public in the U.S.The company expects to finish Wal-Mart’s investment agreement sometime this month as it intends for a better segment of the Chinese online market. Online companies such as Baidu, and Sina Corp. have selected the U.S. for IPO's.Yu commented, "We'll do whatever it costs to secure a bigger slice of the market. Market share is our top priority."Yihaodian offers online consumers 100,000 types of products from mayonnaise to disposable diapers, tablet computers and mobile phones have sales that have been escalating about 28% a month on average.Wal-Mart Stores has a potential upside of 13.6% based on a current price of $54.49 and an average consensus analyst price target of $61.89.
Channel: Voxant Newsroom
Category: Business
Video Length: 0
Date Found: July 08, 2011
Date Produced: July 08, 2011
View Count: 0
 
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