china-lilang-launches-155-million-ipo

China Lilang launches $155 million IPO

The firm is aiming to become the first Chinese menswear company to be listed in Hong Kong.

Menswear company China Lilang yesterday launched an IPO that could raise as much as $155 million and puts it on course to become the first Chinese menswear company to list in Hong Kong.

The deal consists of 300 million primary shares, representing 25% of the company. The indicative price range has been set at between HK$3.20 and HK$4.00 a share, resulting in a deal size between HK$960 million and HK$1.2 billion $124 million to $155 million. A 15% greenshoe could introduce another 45 million shares into the deal, which could increase the total size to $178 million.

The portion for institutional investors takes up 90% of the total offering, with...

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