Vipshop Announces Pricing of Initial Public Offering

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Mar 23, 2012, 07:00 ET

GUANGZHOU, China, March 23, 2012 /PRNewswire-Asia/ -- Vipshop Holdings Limited (NYSE: VIPS) ("Vipshop" or the "Company"), China's leading online discount retailer for brands, today announced that it has priced its initial public offering of 11,004,600 American depositary shares ("ADSs"), with each ADS representing two ordinary shares of the Company, at US$6.50 per ADS, with a total offering size of approximately US$71.5 million, assuming the underwriters do not exercise their option to purchase additional ADSs. The ADSs are expected to begin trading on the New York Stock Exchange on March 23, 2012 under the symbol "VIPS."

The Company has granted the underwriters an option, exercisable within 30 days from the date of the final prospectus, to purchase up to an additional 1,650,600 ADSs at the initial public offering price, less the underwriting discounts.

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

Vipshop's registration statement relating to the initial public offering has been filed with, and declared effective by, the United States Securities and Exchange Commission. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of these securities, in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering of the securities is made only by means of a prospectus forming a part of the effective registration statement. A copy of the prospectus relating to the offering may be obtained by contacting Goldman, Sachs & Co., Attn: Prospectus Department, 200 West Street, New York, New York 10004, by email at [email protected], or by phone at (212) 902-1171; or Deutsche Bank, Attn: Prospectus Department, 100 Plaza One, Jersey City, NJ 07311, United States; or by calling 1-800-503-4611, or by email at [email protected].

About Vipshop Holdings Limited

Vipshop Holdings Limited ("Vipshop" or the "Company") is China's leading online discount retailer for brands. Vipshop offers high quality and popular branded products to consumers throughout China at a significant discount to retail prices. Since it was founded in August 2008, the Company has rapidly built a sizeable and growing base of customers and brand partners. As of December 31, 2011, the Company had over 1.7 million cumulative customers and had promoted and sold products for over 1,900 domestic and international brands.

Investor Relations Contact

ICR, Inc.
Jeremy Peruski
Tel: +1 (646) 405-4866
Email: [email protected]

SOURCE Vipshop Holdings Limited