- After pricing its 26.8M-share IPO at $7 (well below a $12.50-$14 range), European online retailer Cnova (NASDAQ:CNV) opened at $7.63 and is currently at $7.53, up 7.6%.
- Cnova, based out of The Netherlands and controlled by French retail giant Casino, is currently worth $3.3B, or just ~1x trailing sales. Over the first nine months of 2014, the company had revenue of $3B (+20% Y/Y), and a net loss of $69.7M.
- Prospectus, IPO preview