October 10, 2019 / 1:40 AM / 10 days ago

Topsports shares steady at debut

HONG KONG, Oct 10 (Reuters) - Shares of Chinese sportswear maker Topsports opened steady at HK$8.50 ($1.08) at the start of its first day of trading on Hong Kong’s benchmark index.

Last week, the Shenzhen-based company raised $1.01 billion, after pricing its shares at HK$8.50 ($1.08) during its Initial Public Offering (IPO).

A raising of that size gave Topsports a market capitalisation of about $6.74 billion, a term sheet released at the time showed, ahead of the public market trading. (Reporting by Scott Murdoch and Donny Kwok; Editing by Clarence Fernandez)

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