Reuters: Global Markets: Vipshop shares fall on debut

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Vipshop shares fall on debut Mar 23rd 2012, 14:29 Fri Mar 23, 2012 10:29am EDT (Reuters) - Chinese online retailer Vipshop Holdings Ltd's (VIPS.N) American Depositary Shares fell as much as 12 percent in their trading debut on the New York Stock Exchange. Guangzhou-based Vipshop, the first Chinese company to go public in the U.S. since last August, had priced its offering at $6.50 per share, below its indicated range of between $8.50 and $10.50 per share. Vipshop, which raised $71.5 million through its IPO, offers over 1,900 branded products to consumers in China through flash sales on its vipshop.com website. Flash sales represent a new online retail format, combining the advantages of e-commerce and discount sales through selling a limited quantity of discounted products or services online, for a fixed period of time. <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ IPO VIEW-Waters still murky for U.S.-listed Chinese IPOs ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> Goldman Sachs and Deutsche Bank Securities were the joint book-running managers for the offering. The company's ADS were trading down 11 percent at $5.80 on the New York Stock Exchange on Friday morning. (Reporting by Jochelle Mendonca and Ashutosh Pandey in Bangalore; Editing by Brenton Cordeiro, Sreejiraj Eluvangal) Link this Share this Digg this Email Reprints

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