maoye-relaunches-ipo-at-half-original-size

Maoye relaunches IPO at half original size

The department store operator is the first company to attempt a Hong Kong IPO in the second quarter, but is expected to be followed shortly by women's fashion designer E-Land.
Maoye Department Store will be the first company to launch an initial public offering in Hong Kong in the second quarter when it kicks off both its institutional roadshow and retail offering today. The department store operator, which initially planned to list in January, is no doubt hoping that the slight improvement in market sentiment in recent weeks will give it a tailwind and allow it to raise the capital it needs to expand.

However, the company is also coming to market with a significantly smaller deal as valuations have come down. It will also be selling only 16.9% of its share capital compared with 25% last time. According to sources, the price range has...
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