July 21 China outdoor clothing brand Fraspens is
set to announce its intention to float on London's Alternate
Investment Market on Monday, and would seek to raise about 4
million pounds, The Telegraph reported on Monday.
The newspaper said Fraspens' market value would rise to
about 40 million pounds on its flotation on AIM.
Fraspens is following the example of Chinese companies such
as furniture maker Jiansen and amusement park IT provider
Galasys, which listed on the London stock market this year.
Nigel Payne, a non-executive director of Fraspens, told The
Telegraph that the company was floating in Britain because of
the credibility London has in China.
"The London Stock Exchange has a much greater kudos for the
customers and the suppliers, manufacturers and distributors of
this business than other exchanges we might have considered."
Fraspens shares are expected to start trading next month,
according to the newspaper. (bit.ly/UkMdVu)
According to Euromonitor International, Fraspens is the
third-biggest local outdoor clothing brand in China in terms of
Fraspens could not be contacted for comment outside of
normal business hours.
(Reporting by Aashika Jain in Bangalore; Editing by Eric Walsh)