Golden Eagle hopes IPO will soar like Parkson

Mainland department store launches institutional tranche of Hong Kong IPO.

Mainland department store operator Golden Eagle Retail Group will be hoping to replicate the success of its larger rival Parkson Retail when it launches the institutional portion of its $144 million to $182 million IPO today February 27.

Parkson has seen its share price soar 96% since it started trading on November 30 last year, driven by acquisition news and strong investor demand for mainland consumer concept stocks. It now trades at about 40 times its forecast 2005 earnings...

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