Bosideng International Holdings, the mainland down-coat maker listing in Hong Kong, aims to diversify by buying brands in other clothing lines and sell them in its 6,800 mainland outlets, according to chairman Gao Dekang.
Jiangsu-based Bosideng plans to raise up to HK$6.52 billion by selling 1.988 billion shares at between HK$2.56 and HK$3.28 each in its initial public offering next month. Goldman Sachs and Morgan Stanley are arranging the sale.
The international tranche of the offering was 10 times oversubscribed, according to sources. The retail tranche, which starts today, will run until Wednesday. Pricing will be fixed on October 10 and trading will start on October 11.
The Li Ka Shing Foundation, China Life Insurance, the Lee Shau-kee-controlled Cenwise Investment, Cheng Yu-tung's Chow Tai Fook Nominee and Dickson Poon's Equity Advantage are Bosideng International's corporate investors.
The company's self-branded down apparel accounted for 88.4 per cent of total sales in the year to March.
The rest came from down products made for other companies.
