Crystal Group ends homegrown HK IPO drought

The 47-year-old garment maker will become the first local company to list on the Hong Kong stock exchange in more than 19 months.

Hong Kong-based apparel manufacturer, Crystal International Group, stands poised to end to a long dry spell of initial public offerings by homegrown companies, as it finalises details for a stock market flotation that could raise between HK$3.7 billion and HK$4.5 billion $476 million to $574 million.

The company, which was founded in 1970 by local tycoon Kenneth Lo Lok Fung, represents the first $100 million plus homegrown IPO in more than 19 months if it successfully lists next month.

Aesthetic medical service provider Union Medical Healthcare was the last homegrown company to list on the local stock market in March last year. Typically Hong...

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