Just over half a million shares of Ming Le Sports, a Chinese sportswear company, were listed in an initial public offering on the Frankfurt stock exchange a few days ago. The shares started trading at €13.20. The Chinese company wants to use the proceeds of about €5.8 million to invest in a new manufacturing plant and to add some 600 to 650 stores to its current network of more than 3,000 franchised stores in China, as well as five to ten more flagship stores. Ming Le Sports reported net income of €42.0 million on sales of €194.2 million last year. In the first quarter of this year, net income soared by 66 percent to €13.9 million; sales were up by 52 percent to €56.4 million.

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