Cnova: third global ecommerce company in annual sales to file for IPO

Friday 6 June 2014 00:24 CET | News

Cnova, an ecommerce subsidiary of French retail company Casino is the 3rd international ecommerce company with over USD 3 billion in annual sales to file for a US IPO, following and Alibaba, reports.

The IPO in question is estimated at about USD 1 billion according to the same source, although an initial public offering has resulted in USD 100 million, an offering in which SEC has been involved.

Cnova, which was founded in 1998 and booked USD 3.9 billion in sales for the fiscal year which ended on 31 December, 2013, plans to list under the symbol CNV. Morgan Stanley and J.P. Morgan are the joint book runners on the deal. No pricing terms were disclosed.

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Keywords: Cnova, CNV, fiscal year, IPO, ecommerce, annual sales, online sales
Categories: Payments & Commerce
Countries: World
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