XTEP International Begins To Offer Shares Today

According to Hongkong media reports, XTEP China international sporting goods XTEP is going to be listed on the main board of Hongkong in June 3rd.

Starting from today at 26 noon and 12 noon, the total number of prospectuses is 550 million new shares, of which 495 million shares (90%) are allotment, 55 million shares (10%) are open for sale, the price is HK $4.05~5.5 per share, and the total fund raising is 2 billion 227 million 500 thousand ~30.25 billion, and the net amount is HK $2 billion 451 million (at HK $4.78 in the middle price).

It is understood that about 22% of XTEP's fund-raising has been used for media advertising and marketing, about 17% for expansion and improvement of distribution networks, about 19% for expansion of production equipment, about 24% for acquisition of brands, about 7% for professional designers, and 8% for general operating capital, and about 3% for upgrading it systems.