Taiwanese supermodel Lin Chi-ling on Wednesday graced a luncheon hosted by the Dongguan-based lingerie maker Cosmo Lady (China) Holdings (02298.HK) as part of its initial public offering roadshow.
Many analysts, investors and kibitzers who attended the event were disappointed, however. They were hoping the 39-year-old bombshell would be modeling the firm’s products, but she came in a very proper, though sexy, attire. She also stayed for only five minutes, depriving them of the chance to take selfies with the fashion model and actress or engage her in small talk.
During the occasion, Cosmo Lady chairman Zheng Yaonan revealed that the company is spending less than 10 million yuan (US$1.6 million) to have Lin as its spokesperson for two years, Apply Daily reported.
But whether it’s on account of Lin’s drawing power or not, Cosmo Lady’s international offering was fully subscribed on the first day of the roadshow, the Hong Kong Economic Journal reported, citing market sources.
The company issued 406 million new shares at an indicative price range of HK$3.27 (42 US cents) to HK$4.42 apiece, hoping to raise up to HK$1.8 billion. Each lot comprises 1,000 shares.
Morgan Stanley and China International Capital Corp are the IPO sponsors. The offering has a 15 percent over-allotment option.
The capital raised will mainly be used to fund store expansion, as the company plans to increase the number of self-managed stores to 2,000 from 721 as of last year.
It plans to offer the shares next Monday and trading starts on June 26.
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