Date
20 September 2017
William Fung says his company might tap other sources if the violence in Vietnam continues. Photo: Bloomberg
William Fung says his company might tap other sources if the violence in Vietnam continues. Photo: Bloomberg

Li & Fung lodges IPO filing for brand unit

Li & Fung Ltd. (00494.HK) has filed papers for an initial public offering of its licensing and brand business, the Hong Kong Economic Journal reported Friday.

The Hong Kong supply chain giant expects to list Global Brands Group on the local stock market in two to three months, chairman William Fung was quoted as saying.

Meanwhile, Fung said the company might source products from other countries if the violent anti-China protests in Vietnam continue.

All of its Vietnam suppliers have suspended operations because of the violence, causing partial disruption to Li & Fung’s business, he said.

Vietnam accounts for 7 percent of the group’s sourcing market and Fung said the country enjoys competitive advantage as a manufacturing hub.

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