Lingerie firm Best Pacific slips nicely into $81m HK listing

By Rashmi Kumar
15 May 2014

Chinese lingerie materials company Best Pacific International started bookbuilding for its Hong Kong IPO on May 12, as it looks to raise HK$625m ($81m). Books were subscribed by the second day thanks to anchor orders showing confidence in the issuer’s sector.

Best Pacific is offering 250m shares, which represents a 25% float. The trade also comes with a 25m-share greenshoe and is being offered at a price range of HK$1.85-HK$2.50. The shares are valued at a 2014 P/E multiple of 6.8-9.2.

Bankers on the deal fixed guidance based on ...

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