Baozun Launches IPO in Hong Kong
Baozun (NASDAQ: BZUN) is sticking to its home region for its latest round of capital raising. The Shanghai-based e-commerce company announced Thursday that it has launched an initial public offering (IPO) in Hong Kong, after which it will be listed on the Main Board of the enclave's stock exchange. The IPO is part of a broader global issue of 40 million freshly minted shares of the company's Class A ordinary stock.
Four million of these shares are planned to be sold in the enclave, although the company said it could expand this number to 20 million, half of the global total. Baozun did not specify where the remaining shares will be marketed. The offer price of the shares in Hong Kong is to be a maximum of 103.90 Hong Kong dollars ($13.41) per share.
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