Vipshop Prices 7.2 Million Shares for $96 Million Public Offering

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Vipshop has finally priced 7.20 million American depository shares, or ADS, in its follow-on public offering. Announced three weeks ago, the sale is expected to gross $96 million to fund Vipshop's capital expenditures and general corporate spending. 

The offering will consist of both primary and secondary shares drawn from Vipshop and certain pre-IPO investors. Of the 7.2 million shares offered, Vipshop is offering 4 million, while 3.20 million shares are being offered by the selling shareholders. Each ADS represents two ordinary Vipshop shares. 

Along with the offering, the shareholders have granted underwriters a 30-day option to purchase up to 1.08 million additional ADS at the public offering price.


Shares sold by selling shareholders will not benefit Vipshop. Goldman Sachs (Asia) L.L.C., Deutsche Bank Securities and J.P. Morgan Securities LLC acted as joint bookrunners, and Piper Jaffray & Co., Oppenheimer & Co. and China Renaissance Securities (Hong Kong) Limited acted as co-managers for the offering.

The article Vipshop Prices 7.2 Million Shares for $96 Million Public Offering originally appeared on Fool.com.

Fool contributor Kevin Chen has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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