handsome-subscriptions-for-belle-ipo

Handsome subscriptions for Belle IPO

The shoe manufacturer and retailer raises $1.1 billion and attracts more retail money than ICBC.

Anette Jönsson

May 17, 2007

Belle International Holdings has priced its initial public offering at the top of the range for a total deal size of HK$8.68 billion $1.1 billion after attracting a mind-boggling $120 billion worth of orders.

On the retail side, the demand translated into a higher order value than for Industrial and Commercial Bank of ChinaÆs world record-breaking $21.9 billion IPO, making the Mainland shoe manufacturer and retailer the most popular retail offering in Hong Kong ever. ICBCÆs offer attracted more demand in total, however, as institutional investors submitted orders for just under $300 billion.

Investors were believed to have been attracted to the Belle because of its large scale û with a market...

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