Cleary, Freshfields on Chinese Sportswear Manufacturer's $1B Hong Kong IPO
The deal is the second billion-dollar Hong Kong listing after the worst summer for IPOs in the Asian financial centre in seven years.
October 04, 2019 at 01:34 PM
3 minute read
Cleary Gottlieb Steen & Hamilton and Freshfields Bruckhaus Deringer have the lead roles on Chinese sportswear manufacturer Topsports International Holdings Ltd.'s upcoming initial public offering in Hong Kong.
Topsports, which is a subsidiary of Chinese shoe retailer Belle International Holdings Ltd., priced to raise more than $1 billion, according to media reports. According to a filing with the Hong Kong Stock Exchange, the issuer plans to use the majority of the proceeds to repay debt.
In 2017, a consortium led by Chinese private equity firms Hillhouse Capital Group and CDH Investments took then-Hong Kong-listed Belle private in a deal valued at $6.8 billion. Belle said in a securities filing at the time that it experienced unprecedented challenges from e-commerce and shopping malls.
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Law Firms Mentioned
Trending Stories
- 1BD Settles Thousands of Bard Hernia Mesh Lawsuits
- 2First Lawsuit Filed Alleging Contraceptive Depo-Provera Caused Brain Tumor
- 3The Law Firm Disrupted: For Big Law Names, Shorter is Sweeter
- 4The Growing Tension—And Opportunity—in Big Law Nonequity Tiers
- 5The 'Biden Effect' on Senior Attorneys: Should I Stay or Should I Go?
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250