Hong Kong: Chinese e-commerce company Baozun Inc, backed by Alibaba Group Holding Ltd, raised $110 million in a U.S. share offering, less than investors had initially expected, after pricing the deal below its own indicative range.
The company sold 11 million American Depository Shares at a price of $10 each, less than the $12 to $14 per share range, according to a term sheet of the deal seen by Reuters on Thursday.
E-commerce giant Alibaba is Baozun`s largest investor with a 23.5 percent stake, according to the IPO prospectus.
Baozun did not immediately respond to a Reuters request for comment on the IPO pricing.
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