Chinese e-commerce company Baozun Inc, backed by Alibaba Group Holding Ltd, raised $110 million in a US share offering, less than investors had initially expected, after pricing the deal below its own indicative range.

The company sold 11 million American Depository Shares at a price of $10 each, less than the $12 to $14 per share range, Reuters reported on Thursday.

E-commerce giant Alibaba is Baozun's largest investor with a 23.5 percent stake, according to the IPO prospectus.