Ridge Outdoor Launches HK$346 Million Hong Kong IPO

MT Newswires Live

Yesterday

Ridge Outdoor International (HKG:2720) launched its Hong Kong initial public offering on Friday, seeking to raise about HK$345.5 million from the deal.

The fishing-related equipment maker is offering 28.2 million shares at an indicative price range of HK$11.25 to HK$12.25 per share, according to an after-market Hong Kong bourse filing.

The offering comprises 2.8 million shares for Hong Kong investors and 25.4 million shares for international investors, subject to reallocation.

The offer price is expected to be determined by Feb. 6, with allocation results due Feb. 9, ahead of the company's planned trading debut on the Hong Kong Exchange on Feb. 10.

Net proceeds will be used mainly to build and promote the group's brands, including expansion of its Solar label, development of new fishing gear brands in China and Asia-Pacific, and potential acquisitions of complementary fishing tackle brands.

Funds will also support product design and development, establishment of a global fishing gear innovation center, upgrades to production facilities and digital systems, and working capital and general corporate purposes.

China International Capital Corporation is acting as sole sponsor, sponsor-overall coordinator, sole overall coordinator, and sole global coordinator.

It is also serving as joint bookrunner and joint lead manager alongside Futu Securities International (Hong Kong) and Fuze Securities (International).

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