Baofeng, A Slipper Maker, Was The First New IPO In 2011.

December 13th hearing the mainland Brand of slippers Manufacturer Baofeng At the beginning of next month, the initial amount of capital raising will be no more than 1 billion yuan. The sponsor will be the International Bank of recruitment or become the first new IPO in 2011.

According to the Oriental Daily, after BELLE (01880) and nine Xing (01836), there are more shoe stocks coming to Hong Kong. Baofeng international, the mainland's top producer of slippers, is expected to raise funds at the beginning of next month at a minimum of more than 1 billion yuan. The sponsors will be the International Bank of China or become the first new IPO in two.

According to Frost&Sullivan of international consultants, according to the calculation of revenue, output and sales in the year of two and nine by the end of June this year, Baofeng is currently the largest supplier of slippers in the mainland. The annual slippage rate of the group's slippers is 50 million pairs. Currently, the OEM business of private brand slippers, Baofeng brand, Baofeng brand and sandals products, as well as the OEM business for slippers and sandals for customers, account for about 50% of the group's income.

According to the sources, Baofeng has passed the hearing of the listing, and the initial plan is to be introduced early next month. Before the end of the month, it is reported that the Group intends to adopt a low price earnings ratio offer. Baofeng has introduced CITIC Group's investment fund as its strategic shareholder earlier. It has a stake of about 10% before the listing. The largest single shareholder, Shi Qingbo, has a stake of about 90%. The initial estimate is that the listing will not raise more than 1 billion yuan, and the proceeds will be used to expand capacity and further develop its own brand business.