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Article Date: October 2019
Word Count: 165

Top Sports Raises $1.0 Billion in Spinoff

The athletic branded retail arm of Belle Sports priced the offering at the low end of its range as the Hong Kong market has been buffeted by civil unrest and the trade war between the U.S. and China. The shares were priced at HK$8.50 compared to a range in the prospectus of HK$8.30-10.10. Top Sports has a market capitalization of $6.7 billion. It will use the proceeds of the offering to invest in technology (10%), repay short term debt (27%) and repay debt ... Log in to view full article.


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