Shandong Ruyi seeks $500m
In this article (5)
Chinese textile and retail investment company Shandong Ruyi will list an IPO for its recently acquired The Lycra Co in the hopes of raising around US$500 million.
The group is currently exploring a listing in the US as it works with Goldman Sachs, according to those familiar with the prospective deal.
Progress has been slow for Shandong Ruyi since regulatory delays held up its $2 billion purchase of Lycra for more than a year, which it finally completed in January. Plans for the IPO are now at early stages and are subject to significant changes before listing, which is scheduled for sometime within the next three years.
Shandong Ruyi has previously been reported as having ambitions to become “the LVMH of China” and has acquired numerous overseas fashion brands. It is now focusing on consolidating its holdings rather than pursuing new deals.
Shandong Ruyi Investment Holding is the largest textile and apparel company in China, and ranks among the Top 100 Chinese multinational enterprises. It is headquartered in Jining, Shandong and operates 13 domestic industrial parks.
Questions & Answers
Q.Which company is Shandong Ruyi planning to list on the stock market?
Which company is Shandong Ruyi planning to list on the stock market?
Shandong Ruyi intends to list its recently acquired company, The Lycra Co. This move is part of its plan to raise around US$500 million from the IPO.
Q.Where is Shandong Ruyi considering listing The Lycra Co?
Where is Shandong Ruyi considering listing The Lycra Co?
The group is currently exploring a listing in the US for The Lycra Co. Goldman Sachs is working with Shandong Ruyi on this prospective deal.
Q.When did Shandong Ruyi complete its acquisition of Lycra?
When did Shandong Ruyi complete its acquisition of Lycra?
Shandong Ruyi completed its $2 billion purchase of Lycra in January. Regulatory delays had held up the acquisition for over a year before its finalisation.
Q.What is Shandong Ruyi's current strategy regarding new acquisitions?
What is Shandong Ruyi's current strategy regarding new acquisitions?
Shandong Ruyi is currently focusing on consolidating its existing holdings. It is not pursuing new deals at this time, despite its past ambitions.
Reader pulse
Is this IPO a good move for Shandong Ruyi?
19,637 votes so far