Chinese military tailor seeks $469 million from Shanghai IPO

Jihua Group turns to the policy-depressed A-share market for finances to dress the country's defence forces.

As Western economies urge China to increase the transparency of its military activities, Beijing is considering bringing one of its military goods suppliers to market. However, investors hoping to gain some insight into the state's arsenal of military hardware will be disappointed as Jihua Group is a supplier -- albeit it a major one -- of military uniforms and boots.

The company plans to raise up to Rmb3.2 billion $469 million from an initial public offering IPO in Shanghai, it said in an announcement on the web site of China Securities Regulatory Commission CSRC yesterday. The regulator said in a separate statement that it will review the application on April 28.

Jihua has a large...

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