Belle International to spin off sportswear busin - sportstextiles: Lea SportsTextiles

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Belle International to spin off sportswear business

02/07/2019
Chinese footwear retail group Belle International has filed for an initial public offering of its sportswear distribution arm. A listing application has been made to the Hong Kong stock exchange.

According to a filing to the stock exchange on June 27, the offering is jointly sponsored by Bank of America Corp. and Morgan Stanley.

Quoting people with knowledge of the matter, Bloomberg said the sale of shares in this unit could raise as much as $1 billion. No fundraising target has been declared. 

A consortium led by private equity firms Hillhouse Capital and CDH Investments acquired Belle International for $6.8 billion in 2017.

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