Chinese sportswear retailer Topsports to seek approval for $1b IPO

Photo by Edgar Chaparro on Unsplash

Topsports International Holdings Ltd., the private equity-backed Chinese sportswear retailer, plans to seek Hong Kong stock exchange approval next week for its initial public offering, people with knowledge of the matter said.

The company, which is a unit of women’s shoe retailer Belle International Holdings Ltd., plans to sell shares in September if it passes the listing hearing, according to the people. It may seek to raise about $1 billion from the offering, the people said, asking not to be identified because the information is private.

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