Trendy said to plan IPO, eyes $5 bln valuation

Chinese fashion house Trendy International Group Co, owner of the Miss Sixty jeans brand in Asia, is planning a domestic initial public offering as soon as the end of next year, people with knowledge of the matter said.

The Guangzhou-based company plans to seek a valuation of about $5 billion, said the people, who asked not to be identified as the information is private. Trendy International has picked a Chinese investment bank to work on the proposed share sale, the people said.

Trendy International will join other Chinese clothing retailers such as Modern Avenue Group Co, owner of the Canudilo brand, and Shanghai La Chapelle Fashion Co in funding their expansion by selling shares. A total of 25 apparel companies held IPOs in China and Hong Kong during the past three years that raised a combined $2.2 billion, according to data compiled by Bloomberg.