SHANGHAI, China, March 1, 2011 (GLOBE NEWSWIRE) -- Mecox Lane Limited ("Mecox Lane" or the "Company") (Nasdaq:MCOX), which operates one of China's leading online platforms for apparel and accessories, today announced that SINA Corporation ("SINA") (Nasdaq GS: SINA) and a subsidiary of China Dongxiang (Group) Co., Ltd. ("DongXiang") (HKG 3818) entered into separate agreements to acquire an aggregate of 117,505,755 ordinary shares (equivalent to 16,786,535 ADSs) of Mecox Lane from two major shareholders of Mecox Lane, Maxpro Holdings Limited and Ever Keen Holdings Limited, both wholly owned by Sequoia Capital (collectively "Sequoia"). Each of Mecox Lane's ADSs trading on the Nasdaq Global Market represents seven ordinary shares.
SINA And DongXiang Enter Into Agreements To Acquire Shares Of Mecox Lane And Memorandums Of Understanding For Strategic Cooperation
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