Vipshop Holdings (VIPS) IPO Prices at $6.50, Below Expected Range

March 23, 2012 8:05 AM EDT Send to a Friend
Vipshop Holdings Limited (NYSE: VIPS) priced its initial public offering of 11,004,600 American depositary shares at US$6.50 per ADS, well below the expected $8.50-$10.50 range.

Goldman Sachs (Asia) LLC and Deutsche Bank Securities Inc. acted as joint bookrunners and Piper Jaffray & Co. and Oppenheimer & Co. Inc. acted as co-managers for the offering.

Vipshop is China's leading online discount retailer for brands as measured by total revenues in 2010, the number of registered members as of June 30, 2011 and the number of monthly unique visitors in December 2011, according to the Frost & Sullivan Report.

In 2009, 2010 and 2011, Vipshop fulfilled over 70 thousand, over 0.9 million and over 7.2 million customer orders, respectively, and generated total net revenues of US$2.8 million, US$32.6 million and US$227.1 million, respectively. In 2009, 2010 and 2011, Vipshop incurred net losses of US$1.4 million, US$8.4 million and US$107.3 million, respectively. The net loss in 2011 reflected non-cash share-based compensation expenses in an aggregate amount of US$73.9 million.

Keep up to date on the Vipshop IPO at StreetInsider.com's IPO Insider.


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

IPOs

Related Entities

Piper Jaffray, Deutsche Bank

Add Your Comment