Chinese sportswear manufacturer and retailer, 361 Degrees International, will today launch an initial public offering targeting as much as HK$2.18 billion $280 million. Once completed, this will be the largest listing of a sportswear company in Hong Kong since Pou Sheng International raised $322 million last summer.
The IPO consists of 500 million primary shares, representing 25% of the company. A price range of between HK$3.15 and HK$4.35 has been set, which will make the final deal size between HK$1.58 billion and HK$2.18 billion $203 million to $280 million. A 15% greenshoe could bring another 75 million shares into the deal, which, if exercised, could increase the total...
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