Chinese sportswear brand Xtep kicks off roadshow
This story has been corrected following a misunderstanding related to the company's number of outstanding shares. A revised version follows below.
With only 84 days to go before the Beijing Olympics, China's second largest fashion sportswear company, Xtep International, is stepping up its game with the launch today of an initial public offering that aims to raise between HK$2.23 billion and HK$3.03 billion $286 million to $388 million.
Sources say 80% of the money raised will be used to ôproduce more and sell moreö by increasing the companyÆs production capabilities and distribution network, and engaging in promotional activities...
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