Walker Group, Hong Kong shoe maker with growing business both in Hong Kong
and Chinese mainland, Sunday announced its initial public offering plan of 150
million shares starting from Monday.
It
said the listing on the Main Board of the Stock Exchange of Hong Kong is to
raise approximately 665.9 million HK dollars (85.4 million U.S. dollars) for its
business expansion. About 90 percent of the offering will be for placing and 10
percent will be offered to the public with the price range between 3.86 HK
dollars to 3.18 HK dollars.
The placing offer has attracted two institutional investors -- ITOCHU
Corporation, a Japanese conglomerate and Gaoling Yali Fund, a investing fund
indirectly owned by Yale University.
The public offering will last from Monday to Thursday and start trading on
June 7.
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