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

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

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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.

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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.

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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

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