Women's footwear manufacturer Belle International Holdings raised US$1.1 billion in its Hong Kong initial public offering after pricing its shares at US$0.79 (HK$6.20), the top end of the indicative range. Analysts said the pricing of the 1.4 billion shares, or 17% of the company's enlarged share capital, values the stock at about 31 times Belle's estimated 2007 earnings, the Wall Street Journal reported. It is likely the company will exercise the overallotment option – equivalent to 15% of the offered shares – to boost the total raised to US$1.28 billion. The share price is expected to rise as much as 20% when it begins trading on Wednesday. Meanwhile, Bosideng, China's largest producer of branded winter jackets, hopes to raise US$500 million in a Hong Kong IPO later this year. The company, which boasts HSBC Private Equity among its financial backers, has appointed Morgan Stanley and Goldman Sachs to assist with the listing, the Financial Times reported.