Roadshows began yesterday November 14 for a HK$1.39 billion $178 million to HK$1.622 billion $208 million IPO by Parkson Retail, the Chinese retailing arm of Malaysia's Lion group. The deal represents the first overseas listing by a pure Chinese department store operator and will further broaden investment opportunities in the burgeoning Chinese retail and consumer goods sector.
It also marks a step up in activity by Malaysia's government investment arm Khazanah Nasional Berhad, which is to buy a stake in the company. Fund managers have been told that Khazanah will purchase 9.9% of the company at the IPO price.
This will equate to a purchase...
