chinese-sportswear-brand-xtep-kicks-off-roadshow

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 to strengthen the brand.

Based on feedback from one week of pre-marketing, the price range has been set at HK$4.05 to HK$5.50, which will result in a market capitalisation of at least $1.14...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222