Sogo starts pre-marketing

Valuation at a premium to European and US comps based on successful turnaround.

Three years after the bankrupt Japanese store was taken over by Hong Kong's Chow Tai Fook and real estate developers Joseph and Tomas Lau, the local retailer's turnaround is to be crowned by a $180 million to $200 million Hong Kong listing in mid-April.

BNP Paribas Peregrine is sole lead manager of the issue, which began pre-marketing yesterday Monday.

The listed entity will be named Lifestyle International and is currently 50% owned by the Lau...

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