China's Topsports raises $1.01b in Hong Kong IPO

Photo by Edgar Chaparro on Unsplash

Chinese sportswear manufacturer Topsports International Holdings Ltd has raised $1.01 billion after pricing its shares at HK$8.50 in a Hong Kong initial public offering (IPO), a term sheet for the deal showed on Thursday.

The stock priced toward the lower end of a marketing range of HK$8.30 to HK$10.10 ($1.06 to $1.29).

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