7 Days Inn was established in 2005. Guangzhou was the location of the company's founding. In 2006,
Warburg Pincus invested US$10 million. In 2007,
Merrill Lynch,
Deutsche Bank, and Warburg Pincus further invested a combined total of US$95 million. Despite losses amounting to ¥209.9 million (US$30.8 million) in 2008 and ¥9.3 million (US$1.4 million) in the first three quarters of 2009, it listed on the
New York Stock Exchange in September 2009, issuing 10.1 million
American Depositary Shares (representing 20.6% of the company) at US$11/share, raising a total of $111.1 million. CEO Zhang retained a 13.4% stake. 7 Days Inns' failure to turn a profit up to that point meant they were unable to make an offering of
A shares in China. this meant 7 Days Inn was no longer listed on the
New York Stock Exchange. which meant it now controlled 7 Days Inn. ,
Harbin ==References==