Shandong Ruyi mulls IPO for former Invista asset - sportstextiles: Lea SportsTextiles

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Shandong Ruyi mulls IPO for former Invista assets

25/04/2019
Chinese industrial group Shandong Ruyi is preparing to launch an initial public offering for the business unit it acquired from Invista earlier this year, Bloomberg has reported.

The company completed a deal for Invista’s apparel and advanced textiles unit in January, subsequently announcing that it will operate these assets as an independent subsidiary with The Lycra Company as its name.

Quoting “people familiar with the matter”, Bloomberg said Ruyi could look to sell shares in Lycra as soon as this year and is considering the US as the listing venue. 

The group’s chief strategy officer, Kelvin Ho, indicated in February that Ruyi was planning an IPO for the Lycra unit within three years. These discussions are said to be at an early stage, with no confirmation yet about the listing venue or the fundraising size. 

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Ruyi group has big plans for the Lycra Company 30/07/2019
New textile research centre for The Lycra Company in Asia 17/05/2019
Japanese involvement in Shandong Ruyi acquisition 06/03/2019
Shandong Ruyi relaunches Invista assets with new company name 01/02/2019
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