Zero2IPO, CDH Venture-Backed Wowo Plans $40M US IPO

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Beijing-based Wowo Limited, which operates Chinese group-buying site, has filed with the U.S. Securities and Exchange Commission to raise up to US$40 million in a NASDAQ IPO, according to a securities filing.

No pricing information or timing of the IPO have been determined.

The company announced its IPO plans three years ago, but it went nowhere as China’s group-buying sector was pressured by fierce competition.

Investors are cautious of the prospects of its current IPO plan because of the company’s poor financials and weak competitive position.

China Money Network

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