RTTNews | Jan 26, 2021 10:22AM EST

10:21 Tuesday, January 26, 2021 (RTTNews.com) - Shares of Baozun Inc. (BZUN) are currently gaining over 10% after the Chinese company announced that it has entered into a strategic cooperation framework agreement with online marketing company iClick Interactive Asia Group Ltd. (ICLK).

BZUN is currently trading at $39.67, up $4.12 or 11.59%, on the Nasdaq.

Baozun and iClick have also entered into a strategic cooperation framework agreement, pursuant to which both parties will collaborate in developing a full-cycle, closed-loop e-commerce service model.

Baozun will also make equity investment in iClick. Baozun will buy 650 thousand Class B shares of iClick for about $17.2 million or $26.524 per Class B share. Holders of Class B ordinary shares of iClick are entitled to 20 votes per share. Further, Baozun also from about 2.5 million American Depositary Shares for about approximately $32.8 million or $13.262 per ADS.

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