Soaring stock price helps Vipshop raise $550m

Chinese online fashion retailer capitalises on soaring stock price to issue the biggest convertible bond of the year so far.

Soaring stock price helps Vipshop raise $550m

New York-listed Vipshop took advantage of the rally in Chinese internet stocks to raise $550 million on Tuesday by selling a convertible bond to investors.

The deal provides the Chinese online fashion retailer with three-year funding at 1.5% and will convert into equity if the stock reaches $201.24, which represents a 40% premium to the current share price.

Shares in Vipshop have been rising steadily since last year, quadrupling in value from...

FinanceAsia has updated its subscription model. Registered readers now have the opportunity to read five articles from our award-winning website for free. Please subscribe for unlimited access.

Click for more on: vipshop | cb | convertible | deutsche bank | goldman sachs | internet | china | nyse | adr

Print Edition

FinanceAsia Print Edition

EVENTS