Yesterday, the mainland sports brand 361 degrees International Limited listed on the Main Board of Hong Kong, opening price of 4.13 Hong Kong dollars per share, higher than the offer price of 3.61 Hong Kong dollars rose 14.4% in the afternoon with the market fell to close at 3.9 Hong Kong dollars, up 8.03% over the offer price, Turnover of HK $ 1.364 billion and the successful listing of 361 degrees opened the curtain for capital upgrades for the much-watched sporting goods industry in China.
â– Ding family worth
蹿 rose to 4.271 billion Hong Kong dollars
With 361 degrees listed, the Ding family also shareholders surfaced.
According to the 361 degree prospectus, the three executive directors in charge of the 361 degree Ding family hold a total of 1.095 billion shares, accounting for 54.75% of the total share capital. Among them, the president Ding Wu holds 375 million shares, the board chairman and executive director Ding Huihuang and vice president Ding Huirong hold 360 million shares. Ding brilliant, Ding Huirong two brothers, Ding Wu number is the two brother-in-law. Only to yesterday's closing price of 3.9 Hong Kong dollars, 361 degrees after the listing, the shares of the market price of nearly 4,271,000,000 Hong Kong dollars.
For the first day of listing price performance, Ding Wu said that the company stock price performance is satisfactory, I believe will have been going well.
â– By institutional and retail over-subscribed
According to the initial 361 degree prospectus, the total number of new shares is 500 million new shares, of which 450 million shares (90%) are placed in international market and 50 million shares (10%) are offered for sale in Hong Kong. Another 15% is over-allotment option. Initial offer price set at 3.15-4.35 Hong Kong dollars, the scale of fund-raising 1.575 billion -2175 million Hong Kong dollars.
On the 29th, 361 degrees posted the allotment result on the website of the Hong Kong Stock Exchange. In the IPO stage, over 40,000 subscription applications were granted at 361 degrees, 41 times subscriptions were issued to retail investors, 10 times subscriptions were issued to institutional investors, and the total amount of frozen funds in both parts was HK $ 20 billion. Raised funds have now more than 2 billion Hong Kong dollars.
361 degree responsible person in an interview said that in this company IPO funds raised, 38.9% for promotional and sponsoring activities, 32.2% for the development of plants in Fujian, 9% for the development of a unique children's clothing brand . In the future, the company will increase sales outlets in first-tier cities in the Mainland to consolidate second-tier and third-tier cities. He disclosed that the company plans to increase its sales network to more than 6,900 by 2010 and plans to open 25 flagship stores.
â– Mainland sports sector mixed
Compared with the eye-catching performance of 361 degrees, the performance of the mainland sports brands in Hong Kong's stock market yesterday can be said to be mixed. Anta Sports fell 3.003% yesterday, the closing price of 9.69 yuan. According to the previous day's closing price of 9.99 yuan, 23.74 times earnings; Li Ning rose 3.86% yesterday, closing price of 22.85 yuan, according to the previous day's closing price of 22 yuan, price-earnings ratio of 28.90 times.
Huatai Hong Kong analyst Chen Yu said the recent listing of new shares are better, 361 degrees can give investors about 20% return.
However, some analysts believe the scale of 361 degrees is too small compared with industry leaders Li Ning and ANTA Sports. The market is concerned about the long-term growth prospects of 361 degrees after 2008 and 2009. The 361-year increase in sales over the past two years was mainly due to the company's long-term credit sale through the release of retail rights to distributors. At the same time, it also creates the risk of excess inventory.