58.com, known informally as the “Craigslist of China” went public in October 2013 and raised $187 million after an initial valuation of $17 per American Depositary Share (ADS). The site has approximately 130 million users and had 4.3 million local merchants in its local marketplace, according to regulatory filings with the SEC.
A follow-on to the IPO was recently announced, and today the company announced it will issue 2 million ADSs and selling shareholders will sell an aggregate of 4 million ADSs. Shares were priced at $38 USD per ADS, and this additional round will secure approximately $76 million for the company.
A Bottom in Coal
Despite the growth of domestic natural gas, and lightened petroleum sanctions on Iran, the burgeoning energy war with Russia has opened a backdoor for Coal exporters. A number of companies that export coal could stand to benefit from increased costs of natural gas in Europe, and we’ve got a few of them pinpointed right now.
