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An IPO afoot: Sole Elite Group sets terms for $33 million IPO

August 12, 2015

Sole Elite Group, a Chinese athletic shoe sole manufacturer, announced terms for its IPO on Wednesday.

The Jinjiang, China-based company plans to raise $33 million by offering 3 million shares at a price range of $10 to $12. At the midpoint of the proposed range, Sole Elite Group would command a fully diluted market value of $198 million.

Sole Elite Group, which was founded in 2006 and booked $114 million in sales for the 12 months ended December 31, 2014, plans to list on the Nasdaq under the symbol SOLE. Dawson James is the sole bookrunner on the deal.