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Les Alexander to invest $30 million in Chinese shoe company

Discussion in 'Houston Rockets: Game Action & Roster Moves' started by Clutch, Jun 20, 2007.

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  1. Clutch

    Clutch Administrator
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    If you ever see a Yao Ming trade proposal, please refer the one who posted it to this thread.

    http://www.bloomberg.com/apps/news?pid=20601087&sid=a.9YaEvJkzGs&refer=home

    Anta Seeks $405 Million IPO, Rockets Owner to Invest

    By Bei Hu

    June 20 (Bloomberg) -- Anta Sports Products Ltd., China's largest maker of athletic shoes, may raise as much as HK$3.17 billion ($405 million) in a share sale after gaining support of the Houston Rockets' owner, people familiar with the deal said.

    The company will sell 600 million new shares at HK$4.28 to HK$5.28 each in Hong Kong, said the two people, declining to be identified before an official statement. The initial public offering values Anta at as much as $1.6 billion.

    Chinese consumer-goods companies including Belle International Holdings and Intime Department Store (Group) Co. have gone public this year, taking advantage of soaring valuations to raise funds ahead of the 2008 Beijing Olympics. The nation's sportswear market is growing at about 23 percent annually, according to Daiwa Securities Group Inc.

    ``We like the market-leading position that Anta has created in the sporting goods field,'' said Andy Mantel, managing director at Pacific Sun Investment Management Ltd. in Hong Kong, adding that he's interested in buying the stock.

    Leslie Alexander, owner of the National Basketball Association's Houston Rockets, will invest HK$234.5 million in the IPO, the people said. Houston Rockets employs Chinese basketball professional Yao Ming.

    Anta, which had a 3.2 percent market share in 2005, and Li Ning Co. have the largest distribution networks among China's homegrown sporting goods companies, Daiwa said in a June 8 report. Anta sells its products through more than 4,000 outlets operated by exclusive distributors and third parties, the report said. Daiwa is helping arrange the IPO.
     
    #1 Clutch, Jun 20, 2007
  2. Carl Herrera

    Carl Herrera Contributing Member

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    So... Les is going to trade Battier and not sign Hayes in order to screw with Anta's competitor? :)
     
    #2 Carl Herrera, Jun 20, 2007
  3. chris_Rocket

    chris_Rocket Member

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    Hayes has contract with LI NING ;)
     
    #3 chris_Rocket, Jun 20, 2007
  4. BigSherv

    BigSherv Contributing Member

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    great, now we can start the signing people to veteran's minimums and give them 12 million dollar shoe deals.
     
    #4 BigSherv, Jun 20, 2007
  5. JusBleezy

    JusBleezy Contributing Member

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    How about he toss a little money at Lewis so he comes here. Just 11 or 12 million should do it ......for the first year... Then he can go and invest all that money in other places. :)
     
    #5 JusBleezy, Jun 20, 2007
  6. MacGreat

    MacGreat Member

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    Anta > Peak ... sorry Shane.
     
    #6 MacGreat, Jun 20, 2007
  7. badguyian

    badguyian Member

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    I bought Anta last year,the sneaker's ....Damn.... It sucks.
    After that , I start buying Lining.But the problem is that Lining goods are becoming more and more expensive..But I like Lining best.I never buy Peak before
     
    #7 badguyian, Jun 20, 2007
  8. hotblooded

    hotblooded Member

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    Whats Les's main source of income besides Houston ROckets?
     
    #8 hotblooded, Jun 20, 2007
  9. denniscd

    denniscd Contributing Member

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    forget the shoes...why wont les exceed the luxury tax when he has so much extra dough to throw around...we need him to spend to win.
     
    #9 denniscd, Jun 20, 2007
  10. Amel

    Amel Contributing Member

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    Like I said

    Yao will never get traded, even if he plays like Shawn Bradley
     
    #10 Amel, Jun 20, 2007
  11. Astockmarketgod

    Astockmarketgod Member

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    haha... I guess peak is out... Anta shoe banners next year...
     
    #11 Astockmarketgod, Jun 20, 2007
  12. chiorsung

    chiorsung Member

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    fixed :)
     
    #12 chiorsung, Jun 20, 2007
  13. SamFisher

    SamFisher Contributing Member

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    Real estate
     
    #13 SamFisher, Jun 20, 2007
  14. Will

    Will Clutch Crew
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    Les Alexander to invest $30 million in busting the cap to win a championship

    Oh, sorry -- that was only the headline in my imagination.
     
    #14 Will, Jun 20, 2007
  15. Sherlock

    Sherlock Contributing Member

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    Yeah, well, why doesn't he buy a couple draft choices that are rumored to be available for 3 mil each plus a future 2nd?

    <a href="http://www.draftexpress.com/viewarticle.php?a=2134">Draft Express: Random Notes:</a>

    -The Toronto Raptors have targeted a player they like and are attempting to trade for a pick in the late first round, possibly Phoenix or Philadelphia’s. Marco Belinelli and Rudy Fernandez would both make them incredibly happy in the unlikely case they fell here. 3 million dollars and a future second round pick is rumored to be the asking price.

    Now, if he wants to improve our team so much, why doesn't he buy these 2 1st round picks ... it would make a huge difference on our team, and wouldn't affect the luxury tax. Sounds like a wise investment to me, and he wouldn't have to worry about whether JVG would play them or not.

    We could have Acie Law, Javaris Crittendon, Thadeus Young, maybe Julian Wright, by packaging the picks and moving up, or we could end up with 3 players, such as Rudy Fernandez, Sean Williams, and Taureen Green.
     
    #15 Sherlock, Jun 25, 2007
    Last edited: Jun 25, 2007
  16. thumbs

    thumbs Contributing Member

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    No. No. No. Les is selling his sole to China?
     
    #16 thumbs, Jun 25, 2007
  17. YallMean

    YallMean Member

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    Yao is not going anywhere as long as Les is the owner.
     
    #17 YallMean, Jun 25, 2007
  18. Pizza_Da_Hut

    Pizza_Da_Hut I put on pants for this?

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    thats comedy right there. there aren't enough people in the forums who use puns. :D
     
    #18 Pizza_Da_Hut, Jun 25, 2007
  19. BBall Scientist

    BBall Scientist Member

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    "Less Alexander to invest $30 million in a Chinese Shoe Company."

    In a related note, Less Alexander to invest $5.4 million in a free agent MLE signing."

    It's all about priorities.
     
    #19 BBall Scientist, Jun 25, 2007
  20. yao_fan_2007

    yao_fan_2007 Member

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    I wish Les Alexander sold the team to an owner who wants to WIN and not just make $$.

    Les looks like the type to care about making money, and be competitive, but not necessarily WIN it. He needs to spend more $$ considering the Rockets have one of the highest revenues.
     
    #20 yao_fan_2007, Jun 25, 2007
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