Naibu starts bookbuilding, as Chinese take AIM

The Chinese sportswear manufacturer is close to completing its IPO on the London AIM market, in a deal driven by the queues of companies looking to list in Hong Kong and China.
<div style="text-align: left;"> Naibu says that its ring-shaped logo is "inspired by nuclear fusion to symbolise energy" </div>
<div style="text-align: left;"> Naibu says that its ring-shaped logo is "inspired by nuclear fusion to symbolise energy" </div>
March 21, 2012

Official bookbuilding is due to start today for the IPO of Naibu, the Chinese sportswear manufacturer. According to Peter Shea, chairman and CEO of Daniel Stewart Co, the bookrunner on the deal in London, up to 70 institutions were visited in marketing the deal and only one or two are said to have declined. The deal could raise up to 50 million $79 million and kick-start a fresh round of Chinese listings on London’s second market.

There are up to 20 Chinese companies already listed on AIM, but this is a small proportion of the total of 1,400 listed companies. Even so, there is a huge backlog of deals...

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