New York-listed Vipshop raises $173 million from follow-on

The combined sale of new and existing shares in the Chinese online discount retailer receives strong demand, allowing it to be upsized by 20%.
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Vipshop is China’s leading online discount retailer of branded fashion
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<div style="text-align: left;"> Vipshop is China’s leading online discount retailer of branded fashion </div>

Vipshop Holdings, a Chinese online discount retailer listed on the New York Stock Exchange, and a number of its shareholders have raised a combined $172.8 million from a follow-on offering of American depository shares ADSs, a source said yesterday. The final price represented a discount of 1.8% versus Wednesday’s closing price.

Due to strong demand, the size of the deal was increased to 7.2 million ADSs, from the initial 6 million, as the selling shareholders chose to dispose of more shares than planned. The number of new shares sold by the company remained the same.

Some 56% of the final deal size, or 4...

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