China Eratat rises 3.3 pct in Singapore market debut

SINGAPORE, April 17 (Reuters) - Shares of Singapore-listed sportswear maker China Eratat Sports Fashion (CESF.SI: Quote, Profile, Research, Stock Buzz) opened 3.3 percent higher at S$0.31 in its S$37.4 million ($27.7 million) market debut on Thursday.

The Chinese firm, which is a sponsor of the Beijing Olympics, sold the shares to investors at S$0.30 each and plans to use most of the S$34.3 million net proceeds to expand the firm.

Kim Eng Capital is the issue manager, underwriter and placement agent for the share offer. (Reporting by Tan Wei Xin; Editing by Jan Dahinten)