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SCMP Reporter

NORITY International, a manufacturer of sports shoes, showed a clean pair of heels on its first day of trading yesterday, giving its shareholders a profit of 33.6 per cent.

  The shares, offered at 84 cents, closed at $1.01 after briefly trading as high as $1.07.

  The one-for-five bonus warrants closed at 56 cents, giving a package price of $1.122.

  Trade was busy, with share turnover of $56.9 million.

  The issue of 60 million shares, which raised $50.4 million, was 38 times oversubscribed.

   Among the brands the company manufactures are Adidas, Fila and Reebok.

  About $25 million of the cash raised will be used to increase production by adding a 215,000 square foot plant in Shenzhen.



Nority International