Menswear company China Lilang yesterday launched an IPO that could raise as much as $155 million and puts it on course to become the first Chinese menswear company to list in Hong Kong.
The deal consists of 300 million primary shares, representing 25% of the company. The indicative price range has been set at between HK$3.20 and HK$4.00 a share, resulting in a deal size between HK$960 million and HK$1.2 billion $124 million to $155 million. A 15% greenshoe could introduce another 45 million shares into the deal, which could increase the total size to $178 million.
The portion for institutional investors takes up 90% of the total offering, with...
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