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

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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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