New York, March 23- Executives and guests of China- based Vipshop Holdings Limited rang the Opening Bell at the New York Stock Exchange to celebrate the company’s successful completion of its IPO and first day of NYSE trading on Mar. 23. Vipshop is the first Chinese IPO on the New York Stock Exchange in 2012.
Vipshop opened for trading on the NYSE under the ticker symbol “VIPS” after its initial public offering, which raised USD $ 71.5 million in gross proceeds.
"We are excited to join a network of global leaders and industry innovators as a NYSE-listed company today. As we continue to grow our business, we hope to use that same spirit of hard work and innovation embodied by many of our peers on the NYSE to help Vipshop better connect consumers and brands while delivering growth and value to investors,” remarked Eric Shen, Co-Founder, Chairman and CEO. “Our team has worked diligently over the past few years to build our company into China's leading online discount retailer for brands. Our transition to the public markets is only the first step in the beginning of a new and exciting time in Vipshop’s development. We will continue to build upon our unique model of fun and exciting brand discovery to provide more consumers in more locations with access to fashionable, affordable branded apparel.”
“We congratulate Vipshop on its IPO in the U.S.,” said Scott Cutler, EVP and Co-Head of U.S. Listings and Cash Execution at NYSE Euronext. “As one of China’s fastest-growing online retailers with a broad and rapidly expanding customer base, Vipshop is a welcome addition to the NYSE’s community of premier retail companies. We look forward to a successful and lasting partnership with Vipshop and its shareholders.”
Executives and guests of Vipshop visit the New York Stock Exchange to celebrate the company’s successful completion of its IPO and first day of trading on the NYSE. Eric Shen, Co-Founder and CEO of Vipshop, rang the bell, accompanied by Donghao Yang, CFO, and Alex Jiang, COO. Company executives witnessed the first trade and toured the trading floor.
About Vipshop (NYSE: VIPS)
Vipshop Holdings Limited 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.