On Thursday, after an IPO that ultimately raised only $150 million, the international Lanvin group said it was aiming to acquire new houses and open numerous stores.
On Thursday, the Chinese Lanvin Group finally raised $150 million on the stock market. A smaller amount than the $544 million the Chinese luxury fashion conglomerate had planned to raise last March, through the listing via a SPAC, a special purpose acquisition company set up by Primavera Group.
On Thursday morning, however, U.S.-listed shares of Lanvin opened up about 4 % to $10.25 and more than doubled to $20.25 in early trading.
“The market has changed a lot from a year ago when we started the process. However, we still feel very happy with what we have achieved in such a challenging environment,” said group CEO Joann Cheng in an interview with Reuters.
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