Research Institute has derived a fair value of 93 sen for sports shoe manufacturer XiDeLang Holdings Ltd, which will be listed on Bursa Malaysia on Wednesday, Nov 11. The issue price is 58 sen.
The research house said on Tuesday, Nov 10 that for comparison purposes, it selected a combination of companies that have similar business division and produce goods related to XiDeLang's portfolio of products.
The company is the brand-owner of the "XiDeLang" brand name, a multiple award winning sports brand name in China. The company designs, develops and produces sports-shoe under the "XiDeLang" brand.
XiDeLang's network spans across 25 provinces and municipalities with approximately 2,300 retail outlets in China. XiDeLang is operating in Jinjiang City, Fujian province, which is China's sports shoe manufacturing capital and one of the world's largest sports shoe manufacturing centres.
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