E-Land Group will list its China corporations overseasKorean retailer E-Land Group will list its Shanghai-based corporations on the overseas stock market, the company said Wednesday.
The group will first merge the corporations, E-Land Fashion (Shanghai) and E-Land International Fashion (Shanghai), and put a pre-initial public offering (IPO) placement on the merged unit this year.
In a pre-IPO placement, a small group of investors is allowed to purchase shares at lower prices right before the actual IPO takes place.
“The measure is a fundamental reform of our corporate structure,” said a high-ranking spokesman from the company.
The company’s announcement follows its recent listing of E-Land Retail and sale of its hypermarket franchise Kim’s Club as a preemptive measure to better its balance sheet.
The most probable market for the listing is Hong Kong, but the Shanghai or Shenzhen Stock Exchanges in China are also possibilities.
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