E-Land will make new highs in the days to come. patience is the key. result not yet announced. quarter on quarter changes is the key. any slight positive will take this stock to new high with back to back upper circuits. good luck.
South Korea%u2019s fashion conglomerate E-land Group said that it will seek to place pre-initial public offering (IPO) for its combined Chinese unit with institutional players in the second half of the year ahead of going public in Hong Kong or in the Chinese mainland stock markets.
It will first merge E-land International Fashion Shanghai Co. and E-land Fashion Shanghai Co. and select IPO underwriters in the second half in hopes to go public in Chinese territory between 2018 and 2020. Its first IPO choice is the Hong Kong bourse, but could opt for Shanghai or Shenzen markets, a group official said.
E-land International Fashion Shanghai is an AA rated company in China that runs women%u2019s apparel brands Teenie Weenie and E-land with annual sales surpassing 300 billion ($258.9 million) each. E-land Fashion Shanghai has recorded 780 billion won in sales, buoyed by strong performance of its sportswear and men%u2019s wear brands including New Balance and K-Swiss.
Combined sales from 5,500 stores in major cities across China are tallied at 2 trillion won with annual growth over the last six years averaging 19 percent.
Planned sales of big-box-store chain Kim%u2019s Club and listing of E-land retailing operation are aimed to expand presence in China, he said. E-land has been trying to improve financial structure by selling Kim%u2019s Club operation to concentrate on retail business in China.