The Fosun-backed smart apparel technology provider has filed to raise just over $50m on the Shenzhen Stock Exchange’s ChiNext market.
Qingdao Kutesmart, a China-based bespoke fashion provider, has filed for a RMB356m ($50.4m) initial public offering that will enable diversified conglomerate Fosun to exit, DealStreetAsia reported yesterday.
The company intends to issue up to 60 million shares on the Shenzhen Stock Exchange’s ChiNext board priced at RMB5.94 each. It has appointed Zhong De Securities as lead underwriter for the offering.
Kutesmart operates a smart manufacturing system that enables it to produce suits, shirts and coats on behalf of fashion brands…
