SHANGHAI, China, Oct. 26, 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 that its initial public offering of 11,742,857 American depositary shares ("ADSs"), each representing seven ordinary shares of the Company, was priced at $11.00 per ADS. Of the 11,742,857 ADSs being offered, 9,714,286 ADSs are offered by Mecox Lane, and 2,028,571 ADSs are offered by the selling shareholders. The Company will not receive any proceeds from the ADSs sold by the selling shareholders. The underwriters have been granted a 30-day option to purchase up to an additional 1,761,429 ADSs from Mecox Lane and certain selling shareholders. The ADSs will begin trading on the NASDAQ Global Market on October 26, 2010 under the symbol "MCOX."
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.
The offering of the securities is made only by means of a prospectus forming a part of the effective registration statement. 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
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: email@example.com Justin Knapp Ogilvy Financial, Beijing Tel: +86-10-8520-6556 Email: firstname.lastname@example.org In the U.S: Jessica Barist Cohen Ogilvy Financial, New York Tel: +1-646-460-9989 Email: email@example.com