介绍:
Chinese Online Cosmetics Retailer Jumei Files For $400 Mln US IPO
Jumei International, China's largest online retailer of beauty products, has filed an IPO of 400 million US dollars in the US.
The China-based company specifies that its shares will be listed on either the NASDAQ or New York Stock Exchange and will be traded under the symbol JMEI.
The filing did not mention about the number of shares to be sold and the price range.
Jumei, which was founded in 2009, plans to use the net proceeds from the offer to invest in marketing and branding efforts.
That will include setting up additional physical stores and growing its exclusive products portfolio, expanding its logistics network and enhancing its fulfillment capabilities, as well as strengthening its IT infrastructure and systems.
The filing showed that the net income of the online e-commerce site surged to 15.8 million US dollars in 2013 from 5 million the previous year.
Alibaba To Acquire AutoNavi For About $1.5 Bln.
AutoNavi, a China-based provider of digital map content and navigation solutions, has agreed to an aquisition deal proposed by e-commerce firm Alibaba. The deal is worth around 1.5 billion US dollars.
Alibaba will pay 5.3 billion US dollars in cash.
The price represents a premium of 27 percent over AutoNavi's closing price on the Nasdaq on February 7 - the last trading day prior to it revealing the acquisition proposal from Alibaba.
The deal is expected to close in the third quarter of this year.
If completed, the deal will result in AutoNavi becoming a wholly-owned subsidiary of Alibaba, and its stock will no longer be listed on Nasdaq.
AutoNavi's solutions are used by Samsung in its smartphones, and also by China Mobile and Google.
Tesla, Sinopec may build charging stations in China
Media reports suggest that Tesla Motor CEO Elon Musk is planning to visit China this month.
It is reported that Musk is poised to talk with China's largest refiners Sinopec or China Petroleum & Chemical Corp to build charging units at its service station network.
Sinopec will reportedly build charging facilities for Tesla in its petrol stations in Beijing at first, and then spread them to the surrounding areas of the port city of Tianjin and Hebei province.
Earlier media reports claimed that Tesla was scheduled to start delivering its Model S cars to Chinese customers this month.
Glencore Xstrata sells mine to China for $5.8 billion
Glencore Xstrata, an Anglo–Swiss multinational commodity trading company has agreed to sell its Las Bambas Peruvian copper project to a Chinese consortium in an all-cash deal.
The deal is reportedly worth at least 5.8 billion US dollars.
The transaction is expected to close by the autumn.
The deal will then be subject to the consortium's approval.
China Minmetals, the consortium's majority investor, has already "irrevocably" backed the deal.
Central Bank governor rules out short-term stimulus
China's central bank governer has once again ruled out stimulus policies to boost the economy, though he says the economic situation may justify some modest "fine tuning."
Zhou Xiaochuan made the comment in South China's Hainan while attending the annual Bo'ao Forum for Asia.
It comes as the country's economic growth shows fresh signs of slowing down.
Last week, the national bureau of statistics reported that China's key inflation index was at a moderate 2.3 percent in the first quarter of the year.
That rate compares to the 2.6 percent in the same period last year, and falls far short of the planned upper limit of 3.5 percent set by the government for this year.
For more on this, Shane Bigham spoke earlier with Mike Bastin, Visiting Professor at China's University of Economics and Business.
Mike Bastin, Visiting Professor at China's University of Economics and Business.
Symrise offers to buy Diana Group for $1.8 billion
Symrise, a global supplier of fragrances based in Germany has offered to buy French food ingredient maker Diana Group in a 1.8 billion US dollars deal.
The transaction, which will see Symrise acquire all shares in Diana Group's entity, is expected to close in the third quarter.
The purchase values Diana at about 14 times its earnings.
The purchase is believed to enable Symrise to accelerate growth and strengthen raw material supply.
Symrise expects the acquisition to be accretive from 2015 onwards.
Symrise generated sales of 2.5 billion US dollars in 2013.
Diana Group has around two thousand employees and sales were around 587 million US dollars in 2013.
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