Lancy Formally Lists on Shenzhen SME Board

2011-08-30

August 30th, Lancy Co., Ltd. (Lancy, stock code: 002616) was formally listed in Shenzhen SME Board.

According to the prospectus published by Lancy on August 29th, 50,000,000 shares will be issued, accounting for 25% of the total shares of the company after IPO, with a price of 35 yuan/share, and the total shares after the IPO will be 200,000,000. Among the institute investors, Zhouyuan Jiuding invested 50 million yuan, with a holding of 3.85% after the IPO. 

The fund raised will be used for the investment construction of the projects including renovation and expansion of Beijing production base, marketing network construction, etc.. The company is focusing on high-end women suit-dress market, and the company’s three brands LANCY FROM25, LIME FLARE and ZOOC is in the first group of China’s own high-end women suit-dress brands. According to Analysis Report of China’s High-end Women Dress Brands published by the Nation Commercial Information Center of China (CNCIC), the brand position of “Lancy” ranked the 3rd place in 2010. At present the company has 308 sales terminals all over China, preliminarily establishing a nationwide sales network, and realized a revenue of 559 million yuan in 2010.