October 3, 2019 / 4:47 AM / 18 days ago

China's Topsports expected to raise $1 bln in Hong Kong IPO -sources

Oct 3 (Reuters) - Chinese sportswear manufacturer Topsports International Holdings Ltd is on course to raise $1 billion with its shares expected to price at HK$8.50 in an Hong Kong initial public offering, people with knowledge of the matter said on Thursday.

The final pricing guidance given to investors is toward the lower end of the HK$8.30 to HK$10.10 ($1.06 to $1.29) range which was disclosed ahead of the deal.

Topsports’ $1 billion raising comes with the ability to exercise a so-called over allotment option, or greenshoe, which could allow the company to raise up to $1.2 billion. ($1 = 7.8397 Hong Kong dollars) (Reporting by Scott Murdoch; Editing by Christopher Cushing)

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