Shenzhen department store seeks up to $130 million from HK IPO

Shirble Department Store comes to market at a time when there are bigger names, including Agricultural Bank of China and Guotai Junan Securities, competing for investor appetite for IPOs.

Shirble Department Store Holdings, a Shenzhen-based department store operator, is looking to raise as much as HK$1 billion $130 million in a Hong Kong initial public offering to fund its expansion in southern China.

In theory, growing wages in this part of the country make retail consumption plays more appealing, especially locally well-known brand names like Shirble, which has many loyal customers in Shenzhen, a city just across the border from Hong Kong.

But the issue comes at a...

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