Ruyi group has big plans for the Lycra Company
30/07/2019
The Science and Technology Innovation Board (STIB) held its first day of trading on July 22, with the shares listed on it rising by an average of almost 140% on the first day of training.
Ruyi has not disclosed how many shares it will offer on this platform or how much it is hoping to raise. However, on making this announcement it said: “It is significant that Ruyi Group helps Lycra enter China’s capital market and builds the whole industrial chain layout of the high-tech textiles and fashion brand.”
The Lycra Company is the name Ruyi has given to the apparel and advanced textiles unit it acquired from fibre and fabric manufacturer Invista at the start of 2019. It has confirmed that it paid around $2.6 billion for the business.
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