singapores-delisted-sofa-maker-seeks-hong-kong-ipo

Sofa maker seeks Hong Kong IPO after delisting from SGX

Man Wah, which was listed in Singapore until last year and generates almost half of its earnings from the US, is looking to China for its next growth driver.

After Zhongsheng's quickly resumed initial public offering earlier this week, another retail player is looking to take advantage of the recent market rally as well as the growing shopping spree in China. Man Wah Holdings, a Hong Kong-based sofa maker and retailer, is seeking to raise as much as HK$3.4 billion $438 million from a Hong Kong IPO that started bookbuilding yesterday.

This is not the first public share sale for Man Wah -- the company did an IPO in Singapore in June 2005 and remained listed on the Singapore Exchange for over four years. Man Wah delisted in September 2009, along with a series of other so called S-chips Singapore-listed Chinese companies that...

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