Freshfields advises on Topsports International Holdings Limited’s listing on HKSEFreshfields Bruckhaus Deringer (‘Freshfields’) has advised the underwriters on the global offering and listing of shares of Topsports International Holdings Limited (‘Topsports’) on the Hong Kong Stock Exchange (‘HKSE’). Trading of the shares commenced on 10 October 2019.
Topsports operates a consumer-centric sportswear retail and service platform in China and operates a nationwide retail network of over 8,300 directly-operated stores in 268 cities across 30 provinces in China. It is China’s largest sportswear retailer in terms of estimated total retail-equivalent sales value with a 15.9% market share in China’s sportswear retail market in 2018. It has been the strategic partner for major international sportswear brands in the China market for many years and it is currently the largest and second largest global retail partner and customer of adidas and Nike, respectively. Topsports raised proceeds of approximately US$1bn, which will be used for investing in technology initiatives for its business and repayment of outstanding loans.
The Freshfields team advising on the transaction was led by partners Grace Huang and Arun Balasubramanian.
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