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Stock Market & Financial Investment News

News Breaks
February 14, 2014
08:01 EDTVIPSVipshop acquires controlling interest in Lefeng for $132.5M
Vipshop announced that it has acquired a 75% equity interest in Lefeng.com Limited from Ovation Entertainment Limited. Immediately after the acquisition, the Company and Ovation hold 75% and 25%, respectively, of Lefeng. The total consideration payable by the Company for the acquisition is approximately $132.5M, including cash payment and financing in connection with assumed liabilities. In connection with the acquisition, Vipshop entered into a framework supply agreement with the PRC affiliates of Lefeng and Ovation. Pursuant to the agreement, Ovation will supply cosmetics, apparel and other consumer products developed under Ovation's proprietary brands to Vipshop for retail through vip.com and lefeng.com while Vipshop undertakes to achieve at least RMB900 million of sales of Ovation products in 2014 and has a right to receive progressive commissions based on the sales volume.
News For VIPS From The Last 14 Days
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October 9, 2014
08:10 EDTVIPSVipshop announces ADS ratio change to 5 ADS to 1 ordinary share
Vipshop Holdings announced that it will change its ADS to Class A Ordinary Share ratio from one ADS representing two shares to five ADSs representing one Share, effective November 3. Vipshop ADS holders of record as of the close of business on October 31, 2014 will receive nine additional ADSs for every one ADS held on that date. For Vipshop's ADS holders, this ratio change will have the same effect as a 10-for-1 ADS split. The ADS ratio change will have no impact on Vipshop's underlying Shares. Furthermore, no action by ADS holders is required to effect the ratio change.

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