361 Degrees launches $280 million IPO

The Chinese sportswear company is raising capital to fund branding exercises and to increase its production capacity.

Chinese sportswear manufacturer and retailer, 361 Degrees International, will today launch an initial public offering targeting as much as HK$2.18 billion $280 million. Once completed, this will be the largest listing of a sportswear company in Hong Kong since Pou Sheng International raised $322 million last summer.

The IPO consists of 500 million primary shares, representing 25% of the company. A price range of between HK$3.15 and HK$4.35 has been set, which will make the final...

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