HANGZHOU, China, May 03, 2019 (GLOBE NEWSWIRE) -- Yunji Inc. (“Yunji” or the "Company") (NASDAQ: YJ), a leading social e-commerce platform in China, today announced the pricing of its initial public offering of 11,000,000 American Depositary Shares ("ADSs"), each representing ten Class A ordinary shares of the Company, at US$11.00 per ADS, assuming the underwriters do not exercise their option to purchase additional ADSs. The ADSs will begin trading on May 3, 2019 on the Nasdaq Global Market under the symbol "YJ".
The Company has granted the underwriters an option, exercisable within 30 days from the date of the final prospectus, to purchase up to 1,650,000 additional ADSs at US$11.00 per ADS. The total gross proceeds of the offering are expected to be approximately US$121.0 million assuming the underwriters do not exercise their option to purchase additional ADSs, or approximately US$139.2 million if the underwriters choose to exercise their option to purchase additional ADSs in full.
Morgan Stanley & Co. LLC, Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, and China International Capital Corporation Hong Kong Securities Limited are acting as joint bookrunners of this offering.
The Company’s registration statement related to the offering has been filed with, and declared effective by, the U.S. Securities and Exchange Commission (the "SEC"). This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Copies of the prospectus related to the offering may be obtained by calling the following numbers: (1) Morgan Stanley & Co. LLC at +1 (866) 718-1649, (2) Credit Suisse Securities (USA) LLC at +1 (800) 221-1037, (3) J.P. Morgan Securities LLC at +1 (866) 803-9204, and (4) China International Capital Corporation Hong Kong Securities Limited at +1 (646) 794-8800.
Yunji is a leading social e-commerce platform in China that has pioneered a unique, membership-based model that leverages the power of social interaction. The Company’s e-commerce platform offers high-quality products at attractive prices across a large variety of categories catering to the various daily needs of Chinese consumers. The Company incentivizes its members to promote its platform and share its products with their social contacts and uses advanced technologies, including big data and artificial intelligence, to optimize user experience. By combining careful product curation, centralized merchandise sourcing, and efficient supply chain management, Yunji has established itself as a trustworthy e-commerce platform with high-quality products and exclusive membership benefits and features, including discounted prices. For more information, please visit http://investor.yunjiglobal.com/.
Safe Harbor Statement
This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to” and similar statements. Statements that are not historical facts, including statements about Yunji’s beliefs, plans and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in Yunji’s filings with the SEC. All information provided in this press release is as of the date of this press release, and Yunji does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
Investor Relations Contact
Phone: +1 (646) 224-6957
Phone: +1 (646) 224-6957
Source: Yunji Inc.