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Chinese home furnishing chain eyes IPO in 2010

Published: 09 Dec 2008 02:05:40 PST

Dec. 9, 2008 (China Knowledge) - Chinese home furnishing chain M Macalline plans to be listed on China's A share market in 2010 after receiving US$1.5 billion capital injection from the U.S. PE firm Warburg Pincus, sources reported, citing Che Jianxin, CEO of M Macalline, as saying.

A joint venture between Warburg Pincus and the Chinese company set up in February this year will be the vehicle for the listing plan. M Macalline has injected about 70% of its assets into the joint venture.

Another round of financing is expected before the listing, according to the CEO.

Che also revealed that the total number of its outlets in the country would hit 50 by the end of this year, and 30 more are to be added by 2010.

M Macalline's sales revenue is expected to hit RMB 26.5 billion and the figure will rise to RMB 39 billion next year, said Che.

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