subject: Belle Funding Through Ipo In Hong Kong Up 1.11 Billion U.s. Dollars [print this page] According to the Wall Street Journal reported that sources said Thursday that China Belle International Holdings Limited (Belle International Holdings Ltd., Referred to as: Belle Group) plans to Hong Kong initial public offering (IPO) to raise funds up to 1.11 billion U.S. dollars. The company is the biggest shoes in China retail sales.
The source said the sale of Belle Group not more than 14 million shares, accounting for the total company's enlarged share capital of 17%, issue price range of 5.35-6.20 Hong Kong dollars per share. 83.2% of the outstanding shares in the IPO for the company. Related stories: shoes retail stocks promising sources said the company choose to expand the issue size by 15% to exercise that option will be to raise a total of 1.28 billion. The headquarters is located in Shenzhen is China's largest footwear manufacturer Nike (Nike) and Adidas (Adidas) sports shoes distributor.
Development of the issue price for the company's expected performance in 2007's 27-31.3 times lower than similar enterprises in the PE ratio.
According to Morgan Stanley (Morgan Stanley) a report, Hong Kong-listed Prime Success International Group Limited (Prime Success International Group, referred to as: Prime International) is currently trading at about 32-expected performance in 2007 times. Prime Success International, which owns Daphne (Daphne) of this famous brand shoes in China.
China sport shoes enterprises leader Li Ning Company Limited (Li Ning Co. Ltd.) The current stock price performance expectations for 2007 of 41 times.
A fund manager of anonymity, said Prime International weaker than anticipated performance in 2006 reduced the confidence of investors in China's shoe. Prime Success International reported net profit in 2006 increased by 14.5% to 2.95 billion, but lower than the market had expected more than 15%.
By strong sales and new business boost sport shoes, Belle Group, growth in 2006 net profit more than tripled, from 235 million yuan the previous year to 977 million yuan.
Analysts said that with the gradual increase in incomes, the Chinese footwear retailer's fundamentals will continue to improve, and white-collar women buy shoes or to lead the wave. Morgan Stanley report shows that China's urban population in 2004, only 2.5 pairs of shoes per share, at a time when the United States and Japan, respectively, per capita purchases of 7.3 pairs and 4.8 pairs.
According to the China Industrial Information Issuing Center (China Industrial Information Issuing Center) said, ranked by sales, 2006 Belle Group became the largest women's shoes retailer in China, the market share of about 8.2%.
Belle Group's business, including Belle, STACCATO (Staccato), and really beautiful poem (Joy and Peace) and other footwear brands in the chain of eight. The company has more than 2,700 women have a shoe store more than 1,000 shoes and in Hong Kong, Macau and the United States with a number of retail outlets.
Sources said the roadshow for institutional investors will begin today, retail investors, bookkeeping work from the beginning on May 9. Unit pricing will be May 14.
Credit Suisse Group (Credit Suisse Group) and Morgan Stanley (Morgan Stanley) as this issue of Notes on the joint book.
Belle Funding Through Ipo In Hong Kong Up 1.11 Billion U.s. Dollars
