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

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...