The Hong Kong Public Offer of Flyke International Holdings Limited (stock code: 1998; “Flyke International”), of which China Everbright Capital Limited and China Everbright Securities (HK) Limited, both subsidiaries of Everbright, acted as the Sole Global Coordinator, Sole Bookrunner and Sole Lead Manager, was oversubscribed by more than 32 times. Dealings of Flyke International’s shares on the Main Board of Hong Kong Stock Exchange commenced on 29 March 2010 (Monday). The offer price has been determined at HK$1.90 per share in broad lots of 2,000 shares. The Hong Kong Public Offer has raised approximately HK$380 million in total.

 

Flyke International offered a total of 200,000,000 shares under the Global Offering, including 40,000,000 shares allocated to the Hong Kong Public Offer. 160,000,000 shares were offered under the International Placing (subject to adjustment and the over-allotment option). 

 

Flyke International is principally engaged in the design, production and sales of sports shoes under the Flyke brand in China. Launched in April 2004, the Flyke brand is principally targeted at young customers between the ages of 14 to 25. Currently, products under the Flyke brand are sold by 19 authorized distributors at 1,169 authorized retail stores in 208 cities in China. 

 

Flyke International plans to expand the distribution network of Flyke products to cover other regions in China where it currently does not have business presence, and add three sports shoe production lines with the aggregate annual production capacity to be increased to 13 million pairs of sports shoes by the middle of 2010.

 

The Investment Banking Division of Everbright acts as sponsors, lead underwriter or co-lead underwriting for stock listings. It also provides other investment banking services, such as share placement, acquisition, merger, privatization, project finance and other financial advisory services. Flyke International is its first sponsoring and lead underwriting project in 2010 after it sponsored the main-board listings of Strong Petrochemical (stock code: 852) and Qinfa Group (stock code: 866) in Hong Kong last year.