little-sheep-kicks-off-116-million-ipo

Little Sheep kicks off $116 million IPO

The Chinese hotpot chain will use the capital raised from the listing to add 150 new outlets to its restaurant network by 2010.
ChinaÆs largest full-service restaurant chain, Little Sheep Group, plans to raise between HK$656.6 million and HK$901.6 million $84 million and $116 million in an initial public offering that kicked off yesterday. The deal will help fund the opening of 150 new outlets by 2010.

The price range has been set at HK$2.68 to HK$3.68 a share, which will result in a market capitalisation of at least $350 million. Little Sheep is selling 24% of the company in the form of 245 million shares, of which 71% are primary and 29% secondary. There is a greenshoe of 15% that could bring another 37 million shares into the deal and raise the total...
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