Business / Economy

La Chapelle plans HK IPO

( Updated: 2014-04-29 19:45

Shanghai-based La Chapelle Fashion Corp will launch an initial public offering in Hong Kong in May, planning to finance about $300 million, China Business News reported on Tuesday.

The women's fashion group prepared to go public in the A-share market in 2011, but terminated its IPO application with China's securities regulator in 2013.

The report said that compared with annual revenue in 2013 of more than 8 billion yuan ($1.3 billion), the IPO financing amount is very small, and this could be because the firm urgently needs funds after rapid expansion.

The company owns about 5,000 stores, up from about 900 at the end of 2010.

La Chapelle received tens of millions of dollars from venture capital firm Legend Capital in 2010.

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