E-Land Group will list its China corporations overseas
Published: 06 Apr. 2016, 21:01
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
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