Home >

10% Equity Reward Management Busen Apparel Plan To Visit Shenzhen Market Early Next Year

2008/4/1 14:26:00 15

??? 日本語 Fran?ais English 中文

10% Equity Reward Management Busen Apparel Plans To Land In Shenzhen Early Next Year.

Another men's clothing business in Zhejiang is going to be listed for financing.

Busen group revealed that it is accelerating the listing and financing of its main garment industry, and plans to land A shares early next year. The listing place will be initially selected on the Shenzhen stock exchange.

Chen Nengen, chairman of Busen Group Limited, disclosed the news exclusively to the first Financial Daily reporters yesterday at the "2008 China International Clothing and Accessories Fair".

Busen group is a large private joint-stock enterprise integrating clothing, building materials, real estate and circulation trade. It was founded in 1985 and is the largest enterprise in Zhuji, Zhejiang.

Busen group has 13 Busen subsidiaries, including Busen clothing, old people's clothing, Busen cement, Busen Hulun Buir department store, Busen, Al Arnold hall, Busen real estate, trade and so on, including 8 subsidiary companies and two overseas trading company, with more than 4000 employees.

Busen group's Busen brand suits and Busen brand shirts are all national inspection free products.

Chen Nengen believes that although Busen is involved in diversified industries, the main business of the Busen group is still clothing. Under the competitive market environment of garment industry, it is possible to standardize and perfect the corporate governance structure only through listing and financing, and further strengthen the main garment industry.

In June 2005, Busen group set up the Busen clothing Limited by Share Ltd of Zhejiang (hereinafter referred to as "Busen apparel") as the main body of future listing.

Busen apparel is responsible for the production and sales of all clothing and apparel products of Busen group. Busen group holds more than 70% stake in Busen apparel.

The company also introduced the underwear giant Zhejiang Mei Bang Textile Co., Ltd. as a strategic investor of Busen apparel.

Taking into account the "equity incentive" can effectively retain the elite talents in clothing business, Busen group also allows many middle and top management staff to hold shares in Busen apparel, with a total shareholding exceeding 10%.

In June this year, Busen clothing's "listing guidance period" will be full three years, when Busen clothing will be formally submitted to the listing application.

Busen clothing sales reached 700 million yuan last year, the profit of 45 million yuan, Busen apparel has set up more than 2800 stores nationwide.

In order to further start the brand of Busen, Busen fashion has recently hired Huang Xiaoming as its image spokesperson.

Chen Nengen believes that after the listing of Busen clothing, the popularity of the brand will further enhance, and the development of the enterprise will enter a new stage.

//cn.jxm