another-chinese-shoemaker-to-list-in-hong-kong

Another Chinese shoemaker to list in Hong Kong

China-based footwear manufacturer, Stella International, aims to raise up to $387 million in the wake of BelleÆs successful offering.

June 21, 2007

Stella International Holdings has kicked off the roadshow for its initial public offering following strong demand for the listings of fellow shoe manufacturers Belle International Holdings and Walker Shop in the past two months.

Belle, which is ChinaÆs largest manufacturer of womenÆs shoes, drew more demand for its $1.1 billion IPO than the countryÆs largest bank whose total offering was 22 times the size. Its price surged 31% on the May 23 trading debut to a close of HK$8.14 and as of yesterday it was trading 42% above the IPO price. Walker, a smaller Chinese footwear retailer, also attracted hefty demand from investors and climbed 17% on the first trading day on June 7...

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