Xi Long Will Be Listed On The Hong Kong Stock Exchange In July 11Th.

The famous sporting goods brand, 00977 (HK), held an investor promotion conference yesterday. It plans to launch the Hong Kong Stock Exchange in July 11th. According to preliminary prospectus documents, the company plans to issue 500 million shares, of which 450 million are international placements, accounting for 90%, and 50 million shares are publicly issued, accounting for 10%. Of the shares sold, 400 million were new shares, and another 100 million were old shares. The offer price is between HK $1.38 and HK $1.89, with a maximum estimated HK $990 million. It is reported that about 33% of the proceeds will be used as brand promotion and promotional activities. About 24% will be used to expand the sales network, about 15% will expand production facilities and acquisition of production equipment, about 6% will be used to upgrade the information management system, about 15% will be used for long-term R & D expenditure, and the rest will be used for operating expenses. According to sources, Goldman Sachs, one of the sponsors listed in April, invested HK $306 million in HK $8%. Another sponsor, Deutsche Bank, said he had introduced two strategic investors. Deutsche Bank predicts that the price earnings ratio will be 11.1 to 16.5 times this year.