Topsports, the Chinese sportswear retailer, raised roughly $1 billion and achieved a market cap of $6.74 billion after pricing its shares at HK$8.50 (about $1.08) apiece in a Hong Kong IPO, according to Reuters.
Topsports parent company Belle International has reportedly been backed by Hillhouse Capital and CDH Investments since the Chinese PE firms purchased the business for about $6.8 billion in 2017.
