Shanghai La Chapelle stitches together IPO

One of China's largest mass-market brands fails to achieve the same level of mass-market appeal for its IPO.

Chinese mass-market apparel designer and manufacturer, Shanghai La Chapelle Fashion, has raised HK$1.69 billion $219 million after pricing its Hong Kong initial public offering at the bottom of its indicative range on Tuesday. 

The deal comprised 121.579 million primary shares at HK$13.98 per share, with an additional 17.62 million shares, or 14.5% of the greenshoe also allocated. CICC is global co-ordinator, with CLSA as joint bookrunner.

Despite having a strong growth story, the deal struggled against the backdrop of difficult market conditions in Hong Kong, with the Hang Seng Index down every day bar three over the past three weeks. As a result,...

¬ 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 subscription (2-5 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 subscription (2-5 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