Vipshop to Float New ADS Issue

Don't let it get away!

Keep track of the stocks that matter to you.

Help yourself with the Fool's FREE and easy new watchlist service today.

Vipshop (NYSE: VIPS  ) and "certain selling shareholders" are to float a new offering of American depositary shares. The China-based discount retailer and its associates will issue 7.2 million ADSes. Four million of these will be proffered by the company, and the remainder will come from those shareholders, which it did not name. Each ADS will represent two ordinary shares of the firm, and they will be offered at $24 apiece.

Additionally, the company's underwriters are to be granted a 30-day purchase option for up to an additional 1.08 million ADSes.

Vipshop estimates the gross proceeds of its ADSes will total roughly $96 million (the company will receive no monies from the selling shareholders). The firm did not say how it would utilize the funds from the offering.

The three joint book-runners on the issue are units of Goldman Sachs (NYSE: GS  ) , Deutsche Bank (NYSE: DB  ) , and JPMorgan Chase (NYSE: JPM  ) .

Read/Post Comments (1) | Recommend This Article (1)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

  • Report this Comment On April 08, 2013, at 6:17 AM, emmersfool wrote:

    I am a shareholder in VIPS and wanted to buy some ADS (two shares) but every search for the ADS version brings up only the VIPS shares.

    Can you point me to where to buy the ADS please?


    Vince Emmerson

Add your comment.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2314449, ~/Articles/ArticleHandler.aspx, 9/29/2016 4:45:07 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 6 hours ago Sponsored by:
DOW 18,339.24 110.94 0.61%
S&P 500 2,171.37 11.44 0.53%
NASD 5,318.55 12.84 0.24%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

9/28/2016 4:02 PM
VIPS $14.95 Down -0.23 -1.52%
Vipshop Holdings CAPS Rating: ***