Chinese sportswear manufacturer Anta Sports Products has priced its initial public offering at the top end for a total deal size of HK$3.17 billion $406 million after attracting strong demand from both institutional and retail investors.
Along with the China consumption story, which is highly popular with investors, Anta also has the added attraction of the upcoming 2008 Beijing Olympics, which is expected to lead to a pickup in spending on sportswear and give the leading players in the sector a measurable growth boost. The fact that the owner of the Houston Rockets basketball team in which China’s own Yao Ming is one of the key players - bought into the deal as a...
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