Vipshop, which operates a leading retail "flash sales" website in China, raised $71.5 million on Thursday by offering 11.0 million ADSs at $6.50, 32% below its originally proposed $8.50 to $10.50 range. The company had originally expected to sell 11.2 million ADSs, resulting in a total deal size 33% smaller than anticipated. Vipshop will list on the NYSE under the symbol VIPS. Goldman Sachs (Asia) and Deutsche Bank Securities acted as lead managers on the deal, which is the first Chinese ADR since online video website Tudou went public in August 2011.
