Peak Sport Products IPO shoots for $246 million

Another Chinese sportswear company limbers up to enter an already crowded sector.

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...

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