Shandong Ruyi's "American Lycra Group" will be listed in China's science and technology innovation board
In June this year, Shandong Ruyi Group held the launch ceremony of listing on the Science innovation Board of Shanghai Stock Exchange for its newly established American LycrO Group at the headquarters of Jining, and hired Huatai United Securities and Cinda Securities, the leading domestic securities companies, as the sponsor and underwriter of the listing.
At the end of January this year, Rui Group acquired the apparel and fabrics business of Invista from KochIndustries, including LYCRA® fibers, COOLMAX® fibers, THERMOLITE® fibers and thermal materials. Following the deal, Ruyi set up a new company, Leica Group of the US, which makes stretchable fabrics used in jeans and yoga suits. (For regulatory reasons, the $2 billion cross-border acquisition took 15 months from announcement to completion.) Through the acquisition, Ruyi Group has added about 3,000 employees.
On the first day of trading on July 22, the share prices of the first 25 companies rose by an average of 140 percent. Ruyi Group said that as a top brand in the global high-tech fabric industry, Laika Group has competitiveness in kechuang board. Lycra group is a global fabric brand that produces spandex. It has good technology in this area, relying on the overall output of the spandex industry of 11 percent, which accounts for 25 percent of the total sales volume of the field.
According to the information released by Ruyi Group, the annual sales volume of Laika Group exceeds 7.5 billion yuan, and the sales volume of Laika fiber brand garments exceeds 1 billion pieces, of which more than 60 percent comes from new products developed in recent years. Leica has 5 independent research and development laboratories, 2700 trademarks and more than 1400 patents worldwide.
Ruyi abroad in recent years gradually acquired a large number of famous fashion and brands, including Swiss brands Bally, British men's windbreaker brand ygm, Hong Kong group, trinity holdings, and the French couture SMCP (brand Sandro, Maje, ClaudiePierlot), etc., among them, the SMCP on Oct. 20, listed on the nyse euronext Paris stock exchange (see "gorgeous" report: French fashion group SMCP successful listing, big shareholders shandong ruyi cashed out 261 million euros, will keep holding status).
At present, Ruyi Group has 30 fashion brands around the world and operates nearly 6,000 stores in 81 countries and regions. With the help of Ruyi Group, The new fabrics introduced by Laika Group can achieve mass production in a short period of time and strengthen its competitiveness in the Asian region.
In may, sources said ruyi had teamed up with GoldmanSachs group inc. (gs) to study the feasibility of a U.S. IPO for lycra that could raise an estimated $500 million.