IDG Capital Defends Chinese Luxury E-Commerce Firm Secoo As Company Share Price Halves Post-IPO

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IDG Capital’s name appeared in a curious press release today. "Secoo: IDG Capital Will Continue to Support Undervalued Secoo After Restrictions Are Lifted," it reads.

Secoo Holding Ltd, a Chinese luxury e-commerce retailer that raised around US$140 million in a NASDAQ IPO last month, has seen its share price nearly halve during the past three weeks after shares began trading on September 22. The company’s ADR closed at US$6.97 apiece on October 12, compared to its IPO price of US$13 per share.

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