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Hontex Int'l starts offering todayPublished: 14 Dec 2009 00:35:32 PST

    More From ChinaKnowledge.comChina Economy DataChina Business GuideChina DemographicChina Industrial ParksChina Financial Market

    Dec. 14, 2009 (China Knowledge) - Taiwanese garment producer Hontex International<0946> started offering 500 million new shares today, according to a statement filed with the Hong Kong Stock Exchange.

    The company expects to raise between HK$1.04 billion and HK$1.39 billion through an initial public offering on the Hong Kong Stock Exchange, based on the indicative price range set between HK$2.08 and HK$2.78 per share. The subscription will last till Dec. 17.

    Proceeds from the IPO will be used for the setup of flagship stores across the country, branding, M&As and production facility purchase, etc. Mega Capital Co Ltd has been hired as the underwriter for the offering.

    Shao Tenpo, chairman and co-founder of Hontex said the firm currently has no plan to issue Taiwan depository receipts and will consider other financing channels if needed.

    The firm is set to list on the HKEx on Dec. 24.


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