Shoe Manufacturers 361 Degrees To Be Listed In Hong Kong Next Year To Raise $200 Million.

2008/8/26 10:16:00 8

According to the Hongkong South China Morning Post on Monday, China footwear manufacturers and distributors, the 361 degree sports goods program, will make an initial public offering (IPO) in Hongkong next year, raising about $200 million, equivalent to HK $1 billion 560 million.

The report quoted sources as saying that Credit Suisse and Merrill Lynch had been appointed to take charge of the listing plan.

A spokesman for the 361 degree company told the South China Morning Post that the company had a listing plan, but the scale and timetable for raising funds had not yet been finalized.

Since the beginning of this year, two sporting goods manufacturers or retailers in Hongkong have listed on the main board, respectively, XTEP International (1368.HK) and 0551.HK (3813.HK).

XTEP International's stock price has fallen 32.8% in the past month, while Baosheng international has lost 6% in the same period.

In addition, after the completion of the public sale in Hongkong, the Chinese sports and leisure clothing designer and wholesaler, the international sports and leisure apparel wholesaler originally scheduled for listing in July, announced that it had decided not to carry out the Hongkong's market plan because it needed more time to consider the new situation.

He had planned to raise HK $6.9-9.9 billion through his IPO in Hongkong.