SHANGHAI, China, Oct. 29, 2010 (GLOBE NEWSWIRE) -- Mecox Lane Limited, ("Mecox Lane" or the "Company") (Nasdaq:MCOX), which operates China's leading online platform for apparel and accessories as measured by revenues in 2009, today announced the closing of its initial public offering of 13,504,286 American depositary shares ("ADSs"), each representing seven ordinary shares of the Company, at the public offering price of $11.00 per ADS. The offering included 1,761,429 ADSs sold by the Company and certain selling shareholders pursuant to the underwriters' option to purchase additional ADSs, which was exercised in full. The Company sold a total of 10,285,715 ADSs, and the selling shareholders sold a total of 3,218,571 ADSs in the offering.
Credit Suisse Securities (USA) LLC and UBS AG acted as joint bookrunners for the offering. Oppenheimer & Co. Inc. and Roth Capital Partners, LLC acted as co-managers for the offering.
Mecox Lane's registration statement relating to these securities has been declared effective by the United States Securities and Exchange Commission. This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
A copy of the prospectus relating to the offering may be obtained by contacting Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, 11 Madison Avenue, New York, NY 10010, United States of America; phone: +1-800-221-1037; or by contacting UBS Investment Bank, Attention: Prospectus Department, 299 Park Avenue, New York, NY 10171, United States of America; phone: +1-888-827-7275.
The Mecox Lane Limited logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8200
For investor and media inquiries please contact:
In China:
Phili Xu
Mecox Lane Limited
Tel: +86-21-6495-0500 or +86-21-5464-9900 Ext. 8161
Email: ir@m18.com
Justin Knapp
Ogilvy Financial, Beijing
Tel: +86-10-8520-6556
Email: mcox@ogilvy.com
In the U.S.:
Jessica Barist Cohen
Ogilvy Financial, New York
Tel: +1-646-460-9989
Email: mcox@ogilvy.com