By Scott Murdoch
By Scott Murdoch
HONG KONG, Oct 10 (Reuters) – Shares in Topsports Worldwide Holdings 6110.HK rose almost 8% on debut in Hong Kong on Thursday after China’s largest sportswear producer raised $1.Zero billion in an preliminary public providing (IPO) final week.
The inventory of the Shenzhen-based firm climbed to HK$9.16, in comparison with the IPO value of HK$8.50 ($1.08) which had given it a market capitalisation of about $6.74 billion.
The broader Hong Kong inventory market .HSI was up 0.4%.
The efficiency of Topsports shares might be carefully watched as a check of investor sentiment given new inventory issuance on the Hong Kong share market has slumped 44.4% thus far in 2019 in comparison with the identical interval final yr, based on Refinitiv knowledge.
The autumn has been attributed by bankers and analysts to damaging investor sentiment created by the political unrest that has gripped Hong Kong.
Topsports…