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Oct. 11 (Bloomberg) -- Baroque Japan Ltd., a retailer of women’s clothing, plans to raise as much as $200 million in a Hong Kong initial public offering, said two people with knowledge of the matter.
The Tokyo-based company is awaiting approval for the IPO from Hong Kong’s stock exchange, said the people, who declined to be identified because the information is private. The offering may begin in the next few months depending on market conditions, they said.
Baroque Japan’s Hong Kong IPO would come after SBI Holdings Inc., was the first Japanese company to sell shares in Hong Kong. Tokyo-based SBI raised HK$1.6 billion ($205 million) in April.
The company plans to expand its retail network in China, according to a message by Chairman Hiroyuki Murai posted on its website. By January, Baroque Japan had opened 26 stores in the greater China region and 223 in Japan, the website shows.
CLSA Asia-Pacific Markets and UBS AG are managing the sale, the people said. Fujie Nakahama, a Tokyo-based spokeswoman for Baroque Japan declined to comment.
--With assistance from Misato Watanabe in Tokyo. Editors: Mohammed Hadi, Frank Longid
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