360buy.com may abandon IPO and turn to PE for Round D financing this year as the IPO valuation, which stands at some US$ 6B, is well below expectation, sources said.
As the IPO valuation (US$ 6B) is far lower than the valuation (US$ 10B) offered by VCs during the third round of private placement, 360buy.com is likely to launch Round D financing rather than IPO in 2012, said the sources.
It is noteworthy that old shareholders like DST, Gaoling Capital, Capital Today and Tiger Fund may exit from investments, while new targets invited include more than 20 funds such as BlackStone, TemasekHoldings, Providence and CITICPE. The valuation size is about US$ 6B.
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