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.
with the Korea JoongAng Daily
To write comments, please log in to one of the accounts.
Standards Board Policy (0/250자)