On October 10 2019, Topsports International Holdings Limited (stock code: 6110.HK, hereinafter “Topsports International”) successfully listed on the main board of the Stock Exchange of Hong Kong Limited. Topsports International issued approximately 903.1 million shares globally at a price of HKD8.5 per share, raising approximately HKD7.6221 billion.
Topsports International is a consumer centered sportswear retail and service platform in China. It has been a strategic partner of mainstream international sports brands in the Chinese market over the years, and has established a diversified brand portfolio including Nike, Adidas, Puma, Converse, brands under VF Corporation (i.e. Vans, The North Face and Timberland), Reebok, Asics, Onitsuka Tiger and Skechers. According to the prospectus, currently Topsports is the second largest retail partner and client of Nike and the largest retail partner and client of Adidas in the world, and owns over 8,000 direct-sale stores, forming an industry-leading nationwide retail network. Topsports International was the largest sportswear retailer in China by retail sales in 2018.
Acting as the PRC legal counsel to Topsports International in this project, JunHe assisted the company in conducting domestic legal due diligence, drafted, reviewed and revised the application and issuance documents relating to this listing, issued PRC legal opinions, and answered questions regarding the application for listing by the Securities & Futures Commission of Hong Kong and SEHK. Topsports International, the sponsor and other professional institutions, recognised JunHe’s professionalism. . JunHe eventually assisted Topsports International in successfully listing on the main board of SEHK.