Coach to list on the Hong Kong stock exchange


Known for its luxurious handbags, leather goods firm Coach hailing from the United States is now keen on etching a mark in China. The firm in particular will issue up to 293.6 million Hong Kong depositary receipts as it lists shares in Hong Kong. Also, Coach has decided to swing away from public offerings and is offering the shares by way of introduction with no funds being raised. As the luxury goods market further blows out of proportions in the ever-expanding and growing Chinese markets, Coach is currently drawing out plans to set up about 30 stores in China by upcoming year. With this, Coach joins the ranks of other luxury brands including Prada and Jimmy Choo that have in the past had listings in Hong Kong.
[BBC]