XTEP Is Offering HK $4.05 To HK $5.5 Per Share.
It has been reported that mainland sporting goods retailer XTEP China, offering HK $4.05 to HK $5.5 per share, offered 550 million shares and raised HK $3 billion 25 million, which will be listed in June 3rd.
Comprehensive external power May 16th reported that the mainland sporting goods retailer XTEP China, offering HK $4.05 to HK $5.5 per share, offered 550 million shares, of which 90% were international placements, and 10% were public offering. The fund-raising ranged from HK $2 billion 228 million to HK $3 billion 25 million, 500 shares per hand, accounting for handling fees and paction fees (1%), the admission fee was HK $2277.75, and the 15% excess allotment of shares.
XTEP is mainly engaged in the design, development, manufacture and marketing of sports products, including footwear, clothing and accessories, and has XTEP brand and Colin brand, and the Disney sports department brand, which has the Chinese franchise right, is sold according to the Disney license agreement of 06 November 1st.
XTEP set up its own production plant in Quanzhou, Fujian province. At the end of 07, 12 shoe line production lines were operated, and 11 million 500 thousand pairs of shoes were produced annually.
At the end of 07, it began its own production service, operating 12 garment production lines with an annual capacity of about 1 million garment products.
According to preliminary prospectus disclosure, XTEP's net profit in 07 was 222 million yuan, up 3.4 times over 06 years.
One of the sponsors, UBS, published a research report, predicting that the net profit of XTEP in 08 years was 474 million yuan, an increase of 1.1 times, and a 09 year profit of 747 million yuan.
The disclosure revealed that Carlyle, a private equity fund invested in XTEP in June 2007, has a 9.6% stake in the company in the form of convertible loan agreement, and Carlyle's market price is HK $1.55.
XTEP launched a roadshow in May 16th and expects to offer public offering in May 21st, and its shares will be listed in June 3rd.
The sponsor is UBS and Morgan chase.
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