Peak Sport Products IPO shoots for $246 million

Chinese sportswear company Peak Sport Products yesterday launched a roadshow for an initial public offering expected to raise as much as HK$1.9 billion $246 million. The deal comes on the heels of the IPO of another Chinese sportswear company, 361 Degrees International, which raised $231 million in June.

Peak Sport is offering 419.5 million new shares, which is equal to 20% of the company. An indicative price range has been set at between HK$3.55 and HK$4.55 a share, which makes the deal size between HK$1.49 billion and HK$1.9 billion $192 million and $246 million. The 15% greenshoe could bring another 62 million shares in the deal...