Chinese shoe seller Belle plans to spin off its Topsports athletic wear retail unit through an initial public offering in Hong Kong

Belle International Holdings, the largest seller of women’s shoes in China, said it’s planning to spin off a unit that distributes sportswear and athletic shoes for Adidas and Nike for a listing on the Hong Kong stock exchange.A listing by Belle’s Topsports International Holdings unit could raise up to US$1 billion in Hong Kong, according to a Reuters report that cites sources close to the matter. The initial public offer is sponsored by Bank of America Merrill Lynch and Morgan Stanley,… Source link

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