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Washington (AFP) April 15, 2011 US coupon deals website Groupon will likely pick Goldman Sachs Group and Morgan Stanley to be principal underwriters for its public offering later in the year, valuing the company at up to $20 billion, the Wall Street Journal said. Groupon may be planning to raise as much as $1 billion from its initial public offer, reported the Journal, citing people close to the matter. The IPO is likely later in 2011, possibly in the third quarter, according to the financial daily. Last month the New York Times reported that a possible initial public offering could value the company at close to $25 billion. Founded in 2008, the Chicago-based Groupon offers discounts to its members on retail goods and services, offering one localized deal a day. The company announced in January it had raised $950 million in a month to invest in technology, fund its global expansion and compensate company employees and early investors. The company said then that its subscriber base had grown to 50 million from just two million at the beginning of 2010.
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China says could adjust yuan if it fuelled deficitBoao, China (AFP) April 15, 2011 China's commerce minister said Friday Beijing could adjust its currency policy if it found the yuan's appreciation had contributed to the nation's first quarterly trade deficit in seven years. "If it's (trade deficit) caused by the exchange rate, then possibly we will have to readjust our exchange rate policy," Chen Deming told delegates at an annual international forum on the southern islan ... read more |
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