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.

About VanceInfo

VanceInfo is an IT service provider and one of the leading offshore software development companies in China. VanceInfo ranked among the top three Chinese offshore software development service providers for the North American and European markets as measured by 2006 revenues, according to International Data Corporation. VanceInfo''s comprehensive range of IT services includes research and development services, enterprise solutions, application development and maintenance, quality assurance and testing, as well as globalization and localization. VanceInfo provides these services primarily to corporations headquartered in the United States, Europe, Japan and China, targeting high growth industries such as technology, telecommunications, financial services, manufacturing, retail and distribution.