The company behind Chinese nursery product brand BeBeBus has kicked off its Hong Kong initial public offering, aiming to raise nearly HK$782 million.
Butong Group plans to issue nearly 11 million shares at a price between HK$62.01 and HK$71.2. It asks for a minimum investment of nearly HK$7,192 per 100 shares.
It intends to apply 25.7 percent of the net proceeds to enhance production capabilities, 16.6 percent for expanding presence in overseas markets, 34.1 percent for branding activities and the expansion of its sales network, 13.6 percent for the research and development of new products, and the remaining 10 percent for working capital and general corporate purposes.
