Chinese sportswear IPO races to buyout return, says AlecMac11:
Chinese sportswear retailer Topsports International raised HK$7.9 billion after pricing its Hong Kong initial public offering on Oct. 3 towards the bottom end of an indicated range.
The company sold about 930 million shares at HK$8.50 each, according to a person familiar with the terms. Shares were being marketed between HK$8.30 and HK$10.10. Topsports is due to start trading on the Hong Kong Stock Exchange on Oct. 10. Topsports is a division of sportswear and footwear retailer Belle International, which was taken private in 2017 in a $6.8 billion deal led by private equity firms Hillhouse Capital and CDH Investments.
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