Vipshop to Float New ADS Issue

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  ) .


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  • 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?

    Regards

    Vince Emmerson

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