Alibaba-backed Baozun prices $110 mln US IPO, below expectations: Reuters

(Reuters) — 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.