INFANT toys maker Rockapetta Holdings will join the flurry of new listings next week, ahead of the Lunar New Year holiday.
A securities source said the company would raise about $60 million from an issue of 25 per cent new shares, pitched at about six times estimated earnings on a weighted average basis, or eight times on a fully-diluted basis. The company posted turnover last year of $100 million.
The US and Europe are currently the company's major markets, but Rockapetta plans to expand into China through a joint venture.
The venture, which has the right of domestic sales on the mainland, has established a distribution network with department stores in 36 cities.
The source said the company would use the proceeds to expand its production facilities in China.
It makes toys for children below three years old under its own Rockapetta brand-name and on an original equipment manufacturing (OEM) basis.
