360Buy Still Has No IPO Plans, Company Source Says

(Beijing) – Leading online electronics retailer 360Buy has no plans to raise funds through an initial public offering or by selling stakes to private equity firms before 2013, a source inside the company has reiterated.

The source said on July 3 that a financial assessment by PricewaterhouseCoopers showed 360Buy had net cash of almost US$ 1 billion by the end of 2011.