K-Star Sports to go public
02/03/2010
China-based sports footwear company K-Star Sports Limited is to go ahead with an initial public offering exercise.
The company will offer 15.3 million shares and will use the new capital it hopes to raise to expand its production capacity and its sales and marketing network in China.
K-Star's executive director and chief financial officer, Lim Yeow Eng, said on announcing the development: “With the increasing demand for our products internationally, we are optimistic K-Star has the potential to grow into a household brandname in the short-term. We hope our IPO exercise will bring long-term gains and well deserved returns to our investors.”
Currently, K-Star with a workforce of 1,063, produces over 700 designs and distributes four million pairs of sports footwear, annually, through 760 points of sales in China.
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