Baozun Inc.’s $73.5 Million Follow-On Offering


Simpson Thacher represented the underwriters, Credit Suisse, Deutsche Bank Securities and China Renaissance, in connection with the follow-on offering of American depositary shares (ADSs) of Baozun Inc. (“Baozun”).

The offering of 6,000,000 ADSs, representing 18,000,000 Class A ordinary shares, by Baozun and certain of its shareholders, Crescent Castle Holdings Ltd, Infinity I-China Investments (Israel) L.P. and two affiliates of Goldman Sachs (the “selling shareholders”), raised US$36.75 million of gross proceeds to Baozun, and US$36.75 million of gross proceeds to the selling shareholders, before exercise of the greenshoe.

Baozun is the leading brand e-commerce service partner in China, with a market share of approximately 22% as measured by transaction value in 2015. Its ADSs are traded on the NASDAQ Global Select Market under the symbol “BZUN.”

The Simpson Thacher team for the transaction included Chris Lin (Picture), Daniel Fertig, Yi Gao and Andrew Laub (Corporate); Jennie Getsin (FINRA); and Jonathan Cantor and Michael Badain (Tax).

Involved fees earner: Chris Lin – Simpson Thacher & Bartlett; Daniel Fertig – Simpson Thacher & Bartlett; Yi Gao – Simpson Thacher & Bartlett; Jennie Getsin – Simpson Thacher & Bartlett; Jonathan Cantor – Simpson Thacher & Bartlett; Michael Badain – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Credit Suisse; Deutsche Bank Securities; China Renaissance Securities Limited;

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Author: Michael Patrini