New World markets another China retail play
New World Department Store aims to raise about $300 million from its Hong Kong IPO.
Investors who failed to get their desired allocations of BelleÆs heavily oversubscribed initial public offering last month, will get another chance to add to their China retail portfolios through New World Department Store ChinaÆs upcoming IPO of about $300 million.
The company, which is a wholly-owned subsidiary of Hong Kong-listed New World Development, is currently pre-marketing the issue and will launch a formal roadshow on June 25.
The offering, with is jointly arranged by Deutsche Bank and HSBC, will...
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