Home News Fashion e-commerce group iFashion to raise US$10M via IPO by end of...

Fashion e-commerce group iFashion to raise US$10M via IPO by end of 2017, pursuing a few more acquisitions

Author

Date

Category

- Advertisement -

iFashion is also weighing the possibility to list the company in a European stock exchange, after initial plan to list in Asia or Australia

ifashion_raise_ipo

Singapore-based fashion e-commerce company iFashion is looking to raise US$10 million in a listing exercise, according to a report by Dealstreet Asia.

iFashion is expected to be valued US$40-50 milion in terms of market capital through the IPO.

Initially planned to happen in April or May, the IPO plan has been pushed back to end of 2017.

- Advertisement -

iFashion is also looking to enlist the company in a European stock exchange such as the UK or Germany, despite earlier reports of plan to list the company in Singapore, Hong Kong, or Australia.

“I think there is a lot of interest from Europe in terms of the Asian growth market. There are various reports that have said Southeast Asia is the region with the fastest growth for e-commerce segment in the world. So obviously, there is a lot of interest in the Asia-based internet companies,” said iFashion Co-Founder and Fatfish Internet Group CEO Kin-Wai Lau.

Also Read: Marico acquires Beardo, a male grooming platform; will boost its health and beauty offerings

He also stated that the Australian listing plan “may or may not” happen.

Acquisitions have always been a part of iFashion’s strategy as the company is heading towards IPO, and the company stated that it is pursuing a few more acquisitions before the listing.

Its latest purchase was Singapore-based lifestyle marketplace Megafash in February for US$2.23 million.

In 2016, it has also acquired O2O fashion marketplace Dressabelle for US$5.5 million, online marketplace for retail spaces INVADE for US$1.1 million, and Malaysian fashion brand NOSE for US$3.7 million.

“We believe M&A is one way to grow in the region as the market is fragmented and (there are) different cultures around the border. We actually encourage and actively build lot of M&A ventures,” said Lau.

Image Credit: porechenskaya / 123RF Stock Photo

The post Fashion e-commerce group iFashion to raise US$10M via IPO by end of 2017, pursuing a few more acquisitions appeared first on e27.

Source: e27

Send in your scoop to news@theindependent.sg 

- Advertisement -

Almost 8 out of 10 vote PN can’t survive GE 15 without UMNO

Almost eight out of 10 respondents on a Twitter survey voted that Bersatu will not survive GE-15 without UMNO, according to BFM radio survey held this morning (22/2/2021) during its Morning Run programme. Of the 206 voters (respondents) in the final countdown,...

Foodpanda rider called “Blur Sotong” by netizen

Singapore — A Foodpanda rider shared his unfortunate experience with a customer. He took to Facebook on Saturday morning (Feb 20), sharing screenshots of the conversation. Posted by Chan Okada SJ on Friday, 19 February 2021 The rider shared that the customer had asked...

Journalist claims Karen Mok is the only woman Stephen Chow has ever thought of marrying

Hong Kong -- Last year, comedian Stephen Chow's public and ugly legal battle with his former girlfriend over their finances gave a rare peek into the personal life of the fiercely private 58-year-old. It was reported that out of all the women...

Send in your scoop to news@theindependent.sg 

Theindependent