Hong Kong Exchange Gets Its First Korean Listing

The Basic House Co is set to become the first Korean company to list in Hong Kong, according to a report from Dow Jones.

The Korean retailer, which is behind brands such as Basic House and Speedo, is planning to raise $300 mn in the Chinese city during the second half of the year, the report states.

Basic House has brought in Goldman Sachs and UBS as advisers, adds the report.

The move would be the latest listing in Hong Kong by global fashion brands as companies look to bolster their position in the fast-growing Chinese market.

Last month, Italian fashion house Prada and US luggage maker Samsonite both listed in the city.

Basic House is already listed on the Korea Exchange, which it joined in 2005.

[Article by Tim Human, IR magazine]

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