Chinese online pharmacy Ecmoho plans US$100 million IPO
Chinese online pharmacy Ecmoho is seeking to list on the New York Stock Exchange in order to raise US$100 million for expansion.
According to sources cited by Bloomberg, the IPO may take place as early as this year.
The company has declined comment on the matter and sources say the exact timing and the target to be raised may yet change.
Based in Shanghai, Ecmoho distributes supplements and pharmaceuticals online. As well as selling direct it has stores on JD and Alibaba’s platforms.
Ecmoho launched in 2002 as an online marketing service, transitioning into e-commerce in 2006, before sharpening its focus on the health sector in 2011. It sells products from domestic manufacturers and global brands.
Besides Mainland China and Hong Kong, the company operates in the US, Europe and Asia Pacific.