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Article Date: June 2019
Word Count: 440

Belle International to Spin Off Topsports Retail Business

The Chinese sportswear giant wants to raise up to US$1 billion in a public offering of its Topsports retail operation on the Hong Kong stock exchange, Reuters reported, citing sources close to the matter. The registration document did not specify the number of shares or pricing of the offering, which is being sponsored by Bank of America Merrill Lynch and Morgan Stanley. Topsports parent Belle, which sells its own and international brands in China, Hong Kong and Macau, itself used to be publicly traded until it was taken private in 2017 by PE firms Hillhouse Capital and CDH Investments in ... Log in to view full article.


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