Chinese fashion brand eyes US$100m IPO

Bloomberg

Urban Revivo Fashion is considering an initial public offering in Hong Kong, people familiar with the situation said, possibly injecting some life into the city’s market after the slowest start to a year for listings since 2008.

The Guangzhou-based company is working with advisers on a potential share sale to raise at least US$100 million (HK$780 million).

Deliberations are preliminary and Urban Revivo may decide not to list, the people said. A representative for Urban Revivo didn’t immediately respond to a request for comment.

Formed in 2006, Urban Revivo has more than 400 stores in China, according to a June press release. The company, which launched its Benlai range in 2022, also sells to customers online and aims to rival established brands such as Hennes & Mauritz AB and Inditex SA’s Zara.

Urban Revivo has outlets in Singapore, Thailand and the Philippines.

IPO capital raised in Hong Kong totaled US$1.5 billion from January 1 to June 18, the lowest amount since the global financial crisis, as depressed stock valuations delayed listing plans, Bloomberg Intelligence analysts Sharnie Wong and Lucy Wang wrote in a note last week.