A slew of Chinese home-textile companies are queuing up at the stock exchanges in the country to subscribe to initial public offerings (IPO). Among them are Luolai, the Shanghai-based high-end home textile supplier, whose IPO has already opened for subscription.
Luolai will utilize the IPO proceeds for setting up company-owned chains, a research and development center and to expand its manufacturing base in Nantong, Jiangsu province and aims to garner funds totaling to Yuan 523.17 million.
Other home textile companies waiting to debut on the bourses are Mendale from Hunan province and Fuanna in Shenzhen, who will also utilize the proceeds to increase capacities and increase their sales network.
The Chinese textile and apparel sector has been going through a harrowing phase since the last few months, but these home-textile manufacturers have not been affected as much, due to their reliance on domestic sales.
Fibre2fashion News Desk - India
marketing@alchempro.com
