XTEP Listed Shares Fell 361 Degrees Cautious Listing
It is reported that China's 31st sporting goods company will raise about $200 million for public listing in Hongkong. Reporters tried to contact the company yesterday, but the company refused to respond.
According to the Hongkong South China Morning Post, the Chinese shoe manufacturers and distributors will make an initial public offering (IPO) in Hongkong next year, which is about $200 million, equivalent to HK $1 billion 560 million.
Market information indicates that 31st degree has hired two major international investment banks, Credit Suisse and Merrill Lynch, to assist in listing Hong Kong next year.
So far, XTEP International (1368.HK) and Baosheng International (3813.HK) have two sporting goods companies listed on the main board of Hongkong. The stock price of the two companies decreased by 32.8% and 6% respectively last month. However, the company, which originally planned to go public in July, announced that it did not plan to go public in Hongkong.
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