Dr Frog IPO receives strong demand on day one

The retailer of children's clothes – Boshiwa in Chinese – is supported by the participation of three well-known cornerstone investors as it aims to raise up to $320 million from a Hong Kong listing.

Yet another cash-thirsty consumer company has joined the line-up of listing hopefuls in Hong Kong, making the most of the increasingly hot theme of Chinese private consumption. Boshiwa International, one of the largest retailers of children’s products in China, started bookbuilding yesterday for an initial public offering of up to HK$2.49 billion $320 million.

The Shanghai-based company designs, makes and sells children’s clothes, footwear and accessories under its own brand Boshiwa, which literally means Doctor Frog in Chinese, as well as licensed brands, including Harry Potter, Bob the Builder and Thomas and Friends, which are popular in China.

The offering is said to have received strong demand from institutional investors on...

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