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Share sale for clothing firm
By Richard Fu |
June 20, 2011, Monday
|
Print Edition
Print Edition
CHINA Outfitters Holdings Ltd, a menswear producer and retailer, aims to raise up to HK$2.33 billion (US$299 million) in a Hong Kong initial share sale this month to fund expansion.
The Shanghai-based company has set a price range of HK$1.90 to HK$2.50 apiece for the 931.8 million shares it plans to sell in the IPO, according to a statement released yesterday.
China Outfitters makes and sells apparel under brands, including Jeep and Hallmark. It has also acquired the exclusive right to use the London Fog brand within China.
About 30 percent of the net proceeds will be used for the licensing or acquisition of additional international brands. Another 20 percent will be used for the launch of womenswear under the Jeep and London Fog labels, the company said.
The Shanghai-based company has set a price range of HK$1.90 to HK$2.50 apiece for the 931.8 million shares it plans to sell in the IPO, according to a statement released yesterday.
China Outfitters makes and sells apparel under brands, including Jeep and Hallmark. It has also acquired the exclusive right to use the London Fog brand within China.
About 30 percent of the net proceeds will be used for the licensing or acquisition of additional international brands. Another 20 percent will be used for the launch of womenswear under the Jeep and London Fog labels, the company said.
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