Anta Sports Products, which owns a popular athletic footwear brand in the mainland, plans to expand its retail network this year after raising up to HK$2.5 billion from a Hong Kong initial public offering.
The company aims to add 400 retail outlets by the end of the year, boosting its total to 4,500, according to BOC International, which is helping arrange the offer.
In addition to using 35 distributors to sell its products, Anta also planned to expand its own outlets, or even open retail sports complexes in some first-tier cities to enhance its corporate image, said BOCI.
BOCI said it also expected Anta to benefit from the Beijing Olympics next year.
The company began meeting local fund managers yesterday for its offering and would formally kick off the roadshow in the middle of next week, said a source close to Anta. The deal is also being arranged by Morgan Stanley.
'The offering should be another eye-catching deal given booming mainland consumer market,' he said.