Shares in Topsports International, China’s biggest sportswear group, sprinted higher in their trading debut in Hong Kong the week after the company raised more than $1bn in an initial public offering.
The group’s stock climbed as much as 11.8 per cent to HK$9.50 (US$1.21) on a day when the benchmark Hang Seng index was little changed amid a flurry of conflicting US-China trade war headlines. The shares were later trading up 9.4 per cent.
Topsports — backed by Chinese private equity giants CDH Investments and Hillhouse — manufactures and distributes sports apparel for global brands including Adidas and Nike via its network of more than 8,000 outlets across China.
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