International Housewares Retail Company Limited, holding company of Japan Home Centre business, listed on the Hong Kong Stock Exchange (news with additional features)
(firmenpresse) - (DGAP-Media / 26.09.2013 / 09:28)
Press release September 26, 2013International Housewares Retail Company Limited, holding company of Japan
Home Centre business, listed on the Hong Kong Stock Exchange
International Housewares Retail Company Limited ('IHR'), the holding
company of Japan Home Centre business ('JHC'), was listed yesterday on the
Main Board of The Stock Exchange of Hong Kong Limited ('IPO'). IHR, an EQT
Greater China II portfolio company, is a leading housewares retail chain
with over 290 stores in Hong Kong, Singapore, West Malaysia, Mainland China
and Macau. The IPO was priced at the top end of the range at HKD 2.81 per
share which gives a market capitalization of HKD 2,023 million. The Hong
Kong public offering and international placing received robust investor
interest and both were significantly over-subscribed, with the former being
more than 145x over-subscribed. It was the second most over-subscribed IPO
in Hong Kong since the beginning of 2012, for fundraising size of USD 50
million or above.
EQT Greater China II ('EQT Greater China') invested in JHC in March 2010
and appointed a strong industrial board with local consumer retail
expertise to support JHC's expansion and growth. Since then, JHC has
expanded into four new jurisdictions: Singapore, Malaysia, Mainland China
and Macau, through add-on acquisitions or joint ventures. It has become the
largest housewares retail chain in Singapore and Macau, in addition to its
core Hong Kong business where it continues to enjoy a leading market
position. Sales and EBITDA have increased by 21% per year and 31% per year
respectively from FY2011 to FY2013 (ending April). Sales and EBITDA
amounted to USD 193.4 million and USD 20.3 million respectively in FY2013.
'EQT Greater China focused fully on expansion for JHC. We are very excited
about JHC's achievements, both in Hong Kong and in the new markets. The
strong growth in new markets solidifies their position as one of the
leading housewares retail chains in Asia. We believe JHC is well-positioned
to translate its strengths into future growth and profits as a listed
company', states Tak Wai CHUNG, Partner at EQT Partners, investment advisor
to EQT Greater China.
'EQT Greater China provided valuable resources and expertise which
contributed to the strong growth during the last few years. Together, we
have developed a solid strategy for profitable growth. The support of EQT
Greater China has been really constructive and a key component to JHC's
success,' states Peter Lau, CEO and Chairman of IHR and co-founder of JHC.
EQT Greater China has sold a 5% stake of IHR on a fully-diluted basis at
the IPO and may sell up to an additional 4.5% if the over-allotment option
is exercised in full. After the IPO, EQT Greater China continues to hold a
25% stake if the over-allotment option is not exercised and a 20.5% stake
if exercised in full. The residual stake is subject to a six month lockup.
Contacts:
Tak Wai CHUNG, Partner at EQT Partners +852 2801 6823
Johan Hähnel, EQT Greater China II spokesperson +46 706 05 63 34
About EQT
EQT is the leading private equity group in Northern Europe, with portfolio
companies in Northern and Eastern Europe, Asia and the US with total sales
of more than EUR 25 billion and over 550,000 employees. EQT works with
portfolio companies to achieve sustainable growth, operational excellence
and market leadership.
For further information please visit 1TUwww.eqt.seU1T
About International Housewares Retail Company Limited
International Housewares Retail Company Limited, with the core brand Japan
Home Centre, is one of the leading housewares retail chains in Asia with
over 290 stores in Hong Kong, Singapore, West Malaysia, Mainland China and
Macau. It has a market share of approximately 49% and 10% of the housewares
specialised stores market in Hong Kong and Singapore respectively and
offers a full range of housewares products which enables customers to enjoy
the convenience of a 'one-stop' shopping experience through a wide variety
of quality products at reasonable and competitive prices. Its extensive
global supplier network provides significant competitive advantages in both
quality and pricing.
For further information please visit 1TUwww.japanhome.com.hkU1T
End of Media Release
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Additional features:
Document: http://n.equitystory.com/c/fncls.ssp?u=SPVOVXSVKP
Document title: EQT_Press release IHR
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Issuer: EQT Partners AB
Key word(s): Finance
26.09.2013 Dissemination of a Press Release, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Datum: 26.09.2013 - 09:28 Uhr
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News-ID 300386
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