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Zuoan Clothing lists on NYSE
21
Feb '11
Chinese men's casual wear clothing company – Zuoan launched an IPO on the New York Stock Exchange (NYSE) on February 15, to become the first Chinese enterprise to complete an IPO on the NYSE in 2011.

Zuoan Clothing Company issued a total of six million American depositary shares at an issue price of US $7 to garner $42 million.

Zuoan is the second Chinese apparel manufacturer to list on NYSE, after the listing of Xi Niya Clothing Manufacturing Co on the NYSE in late 2010.

Zouan has mainly committed itself to environmental protection and low-carbon emissions. The listing on the NYSE will help to enhance its brand awareness.

The prospectus reveals that the Zouan brand ranks second place among casual men's clothing brands in Chinese market with a market share of 5.4 percent.

Fibre2fashion News Desk - China

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