Fast Retailing, the owner of the Japanese apparel retailer Uniqlo, has announced its plans to pursue a secondary share market listing in Hong Kong.
Aim to expand brand
The move is intended to expand its brand across Asia and beyond.
The company would not issue new shares or increase capital, but said it planned the secondary listing as a way to broaden its base of investors and customers in Asia and, specifically, in China.
Uniqlo, which specializes in affordable fashion items, has been growing in popularity in recent years in the rest of Asia and into overseas markets including Europe and the United States.
Commitment to Asia
Investors would be able to buy and sell Fast Retailing shares in Hong Kong dollars, rather than trading the yen-dominated shares in Hong Kong.
Fast Retailing said the move is aimed to “demonstrate the company’s commitment to, and focus on, Asia.”