XTEP China Intends To Go To Hong Kong IPO To Raise Funds At Most 3 Billion 200 Million

Following Lining and Anta, another Chinese retailer, XTEP, China, which is mainly engaged in the production and distribution of sportswear, sports shoes and sporting goods, has officially started its pre launch roadshow before its initial public offering yesterday, raising funds from 300 million to 400 million dollars, equivalent to HK $2 billion 400 million to HK $3 billion 200 million.

It is reported that UBS and JP Morgan are listed as sponsors of XTEP China.

According to the company website information, XTEP China takes the comprehensive development, production and sale of XTEP shoes (XTEP) sports shoes, clothing, bags, hats, balls and socks as its main business, located in Quanzhou economic and Technological Development Zone, Fujian province.

If all goes well, XTEP China will be the third mainland sporting goods manufacturer in Hongkong after Lining and Anta.

XTEP China has passed the listing hearing in principle last week. Its initial recommendation was originally launched in May 5th. However, due to additional information to the HKEx, the recommendation was postponed to these days to maintain the initial target of listing at the end of May or early June.