VanceInfo to be China's first US-listed IT outsourcer

VanceInfo Technology will become the first Chinese IT outsourcing company to hold an initial public offering on the New York Stock Exchange, Economic Observer reported (in Chinese). The company plans to issue up to 7.65 million shares to raise about US$130 million on December 12, with Citigroup and Merrill Lynch underwriting the listing. VanceInfo is China's third-largest offshore software development service provider after NeuSoft and ChinaSoft.