A team of Ropes & Gray attorneys advised clients Sequoia Capital and Doll Capital Management (DCM) in a public secondary offering of a portion of their stakes in Vipshop Holdings Limited (NYSE: VIPS), a leading Chinese online discount retailer. Goldman Sachs, Deutsche Bank Securities and J.P. Morgan served as lead underwriters for the offering, which included the secondary sale by Sequoia Capital and DCM of stakes representing approximately 1.4% and 3.1%, respectively, of the outstanding shares of Vipshop prior to the offering for aggregate gross proceeds of $57.4 million and the placement of new shares by Vipshop for gross proceeds of $96 million. The transaction closed on March 19.
The Ropes & Gray team was led by former Hong Kong-based capital markets partner, with assistance from associate Kendra Jhu.
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