In an unusual move, Zhejiang-based Shenzhou International launched its roadshow for its November Hong Kong IPO in Japan yesterday October 12. Shenzhou - China's largest knitwear manufacturer on a net income basis - chose to kick off in Japan because it represents the company's biggest export market.
Pre-greenshoe, it is hoping to raise $101 million to $115 million based on the sale of 300 million new shares, which are being marketed on a price range of HK$2.63-HK$2.99 per share. BNP Peregrine Paribas is lead manager and sponsor of the deal.
The final free float will represent 25% of the company's share capital, resulting in a...
