xdlong-ipo-at-the-starting-block

XDLong IPO at the starting block

Another Chinese sports brand expects to raise up to $127 million to use for brand promotion and expansion of its retail network.

By Daniel Inman

June 22, 2008

XDLong International, China's fourth largest domestic sportswear brand in terms of sales, and the last of the top five to go public, will start bookbuilding today for an initial public offering that is expected to raise between HK$690 million and HK$990 million $88 million to $127 million.

The company is selling 25% of its enlarged share capital and the price range has been set at HK$1.38 to HK$1.98 a share. There are 500 million shares on offer, with an additional greenshoe of 15%, which could bring in a further $19 million at the top of the range. Out of the base offering, 80% of the shares are primary, with...

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