Chinese online-only apparel site VANCL is reportedly filing its IPO prospectus in next month in an aim to raise between $750 million and US$1 billion in a U.S. IPO. The deal, which is targeted for the fourth quarter of this year, could be the largest initial public offering from China in the U.S. this year.

The Beijing-based company was said to be downsizing 5% of its staff across the board, which according to some analysts could be a sign for getting prepared for an imminent IPO through reducing cost and boosting balance sheet. Or maybe getting prepared for the long-rumored-yet-to-come winter at a rough guess.

According to people familiar with the matter, VANCL has hired Goldman Sachs, Morgan Stanley and Credit Suisse as underwriters.

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Ben Jiang

Listener of startups, writer on tech. Maker of things, dreamer by choice.