Floats in fashion: Maje and Sandro owner SMCP plans a €2.2bn IPO in Paris
SMCP, which is majority owned by Chinese textiles giant Shandong Ruyi, is aiming to raise net proceeds of €121m to reduce its debt and pursue growth
It will price its shares between €20 and €25 apiece, with trading due to begin on 24 October, and the float will also allow private equity giant KKR and
members of SMCP's management to sell down their stake.
“Our unique business model that combines the codes of luxury and fast-fashion, the international reputation of our three Parisian brands and our
ability to generate strong profitable growth will drive the group's success in
the years to come.”
Shandong Ruyi will also use the proceeds from the sale to buy out the Chinese government's stake in its Yinchuan Ruyi factory.
SMCP's brands have stores in some of London's prime locations such as Canary Wharf, Bond Street and Covent Garden.
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