La Natsu Bell Wants To Land At Shanghai Stock Exchange

La Natsu Bell changed the use of IPO funds to land on the Shanghai Stock Exchange.

(real estate) La Natsu Bell clothing Limited by Share Ltd announced that the board of directors has approved the application to issue the company's A shares to the China Securities Regulatory Commission, and to apply to the Shanghai stock exchange or Shenzhen (real estate) stock exchange for the listing of the A shares.

However, the company said that it had not yet decided on the announcement date.

Nor has it applied to any regulatory authority in People's Republic of China or any other place to approve the issuance of A shares. The company will issue a further notice on the proposed issuance of A shares in due course.

The board of directors of the company confirms that

There has been no significant change in the nature of the business.

The board has considered the impact of the proposed use of some of the proceeds from the initial public offering on the group business. It is considered that the proposed redistribution of the proceeds from the initial public offering will enable the group to further improve the utilization efficiency of the initial public offering so as to support the group's operation and continuous expansion, and is therefore in the overall interest of the company and shareholders.

On the same day, La Natsu Bell also decided to change the use of the proceeds from the initial public offering.

The main change is that about 33% of the initial public offering (equivalent to about HK $604 million) will be used to repay the existing bank loans of the group. The initial public offering proceeds of about 20% (equivalent to about HK $366 million) will be used as an opportunity to seek investment and strategic alliances to supplement existing businesses and further consolidate the market position. Moreover, about 20% of the initial public offering proceeds will be used to expand the retail network of the group, including, but not limited to, the construction of new retail outlets in the mainland of China and the acquisition of inventories for new retail stores.

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