Aug 13, 2009
Menswear retailer Trinity eyes $200 million Hong Kong IPO
Aug 13, 2009
HONG KONG, Aug 13 (Reuters) - Menswear retailer Trinity, controlled by the parent of Li & Fung (0494.HK), has revived a listing plan and aims to raise at least US$200 million in a Hong Kong IPO before the end of this year, a Hong Kong newspaper reported on Thursday 13 August.
Altea, a Trinity operated brand - Photo: www.trinity-limited.com
Trinity, privately held by the Fung family and chaired by Li & Fung's chairman Victor Fung, has appointed JP Morgan (JPM.N) and Citigroup (C.N) as sponsors of the issue, but no application has yet been submitted, Ming Pao Daily News said, citing sources close to the sponsors.
It gave no further listing details.
A Li & Fung spokeswoman declined to comment on the report.
Trinity, a luxury menswear retailers in China, operates a portfolio of 7 premium menswear brands and a network of over 430 mono-brand outlets in 38 Chinese cities.
The brands include Altea, Cerruti 1881, D'urban, Gieves & Hawkes, Intermezzo, Kent & Curwen and Leo. The firm also operate 35 joint ventures stores to retail the Salvatore Ferragamo brand in South Korea, Singapore, Malaysia and Thailand, Trinity said on its website, here
Activity in the Hong Kong IPO market has picked up in recent months as the stock market has rallied.
(Reporting by Donny Kwok; Editing by Ken Wills)
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