Chinese maker of Victoria's Secret bras launches up to US$243m HK IPO

[HONG KONG] Regina Miracle International (Holdings) Ltd, which makes lingerie for global brands including Victoria's Secret and Calvin Klein, launched on Tuesday an up to US$243 million Hong Kong IPO to fund increased output and cut debt.

The world's largest maker of bras is offering 295 million new shares in an indicative range of HK$5.38 to HK$6.38 each, said a source familiar with the plans, who declined to be named because details of the deal are not yet public. That would put the total initial public offering at up to HK$1.88 billion (S$343.2 million).

Besides making lingerie for L Brands Inc's Victoria's Secret and PVH Corp's Calvin Klein, Regina Miracle also makes running shoes for Under Armour Inc, according to its IPO prospectus.

REUTERS