Dangdang to raise $200m in New York listing

China Dangdang, which sells books and beauty products online, has filed for a New York listing to raise up to US$200 million in an initial public offering, Reuters reported. Credit Suisse, Morgan Stanley and Piper Jaffray are the IPO underwriters. Dangdang said it would use the proceeds of the offer to widen the range of its product categories and improve its technology infrastructure. China’s equivalent of Amazon.com (AMZN.NASDAQ), Dangdang turned down a takeover offer by the US business-to-consumer giant, which went on to acquire Joyo.com. Dangdang is one of several portals tapping the US capital markets. Video websites Tudou and Youku have also recently announced plans for their respective IPOs.