Cleary Gottlieb Steen & Hamilton and Freshfields Bruckhaus Deringer have the lead roles on Chinese sportswear manufacturer Topsports International Holdings Ltd.’s upcoming initial public offering in Hong Kong.

Topsports, which is a subsidiary of Chinese shoe retailer Belle International Holdings Ltd., priced to raise more than $1 billion, according to media reports. According to a filing with the Hong Kong Stock Exchange, the issuer plans to use the majority of the proceeds to repay debt.