China Xiniya launches IPO at $11 per share (AP)
06:10
zhbjzhql
, Posted in
NEW YORK – China Xiniya Fashion says it launched its IPO at $11 per share Tuesday, and the stock remained relatively stable in morning trading.
Shares fell 17 cents, or just under 2 percent, to $10.83 in morning trading.
The company could raise gross proceeds of $88 million from the IPO of 8 million American Depositary Shares. Each ADS is equal to four ordinary shares of the China-based men's clothing company.
The company said it would use net proceeds for a mix of new facilities, marketing and research and development.
China Xiniya Fashion said Tuesday that it gave the underwriters a 30-day option to buy up to an additional 1.2 million ADS to cover excess demand.
You can leave a response, or trackback from your own site.
0 Response to "China Xiniya launches IPO at $11 per share (AP)"
Post a Comment