Shares in Anta Sports Products and Vinda International are likely to post modest gains on their trading debuts today as investors favour mainland consumer stocks, analysts said. Anta, a mainland sportswear maker, traded as high as HK$7.05 in the grey market yesterday, 33 per cent higher than its offer price of HK$5.28, while tissue paper maker Vinda traded 20 per cent higher at HK$4.4, according to Phillip Securities. 'Fund managers are willing to pour money into China consumer stocks, despite sky-high valuations,' said a hedge fund manager. Anta raised HK$3.1 billion and Vinda pocketed HK$709 million from their public offerings. Anta's retail tranche was 183 times covered while Vinda's was 115 times and both priced the shares at the top end of their indicative ranges. Meanwhile, steel manufacturer and toolmaker Tiangong plans to set aside more than half of the funds raised from its HK$636 million IPO for new production facilities. About HK$350 million would be used to buy equipment to produce high-speed steel, cutting tools and die steel products of larger scale and higher standard, the firm's preliminary prospectus said. The firm and its shareholders are selling a total 130 million shares, of which 100 million are new shares, at an offer price of HK$5.40 to HK$6.36 each, raising up to HK$825 million, according to a sale document obtained by fund managers. The shares translate into 13.2 to 15.5 times forecast 2007 earnings. BNP Paribas is the bookrunner and sponsor. The trading debut is expected on July 26.