Topsports prices IPO off floor, pockets $1bn

Sport 230x150
By Jonathan Breen
03 Oct 2019

Chinese sportswear retailer Topsports International Holdings has raised HK$7.9bn ($1bn) from its IPO on the Hong Kong Stock Exchange, pricing the deal just above the bottom of the marketed range.

The issuer rode a wave of demand from long-only investors, which followed a remarkable performance by its HKEX-listed peers — primarily Anta Sports Products and Li Ning Co. Because of the strong interest, many accounts will being going home with no stock from the IPO.

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