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IHR joins HK stock exchange

International Housewares Retail (IHR) has listed on the Hong Kong stock exchange.

IHR has a retail network of 293 stores in Hong Kong, Singapore, West Malaysia, mainland China and Macau, as well as 10 licenced stores operated by its business partners in East Malaysia, Saudi Arabia, New Zealand, Indonesia and Cambodia.

Its stores are operated under the Japan Home Centre, City Life, Epo Gifts & Stationery, Japan Home and Living Plus brands.

The IPO was priced at the top end of the range at HK$2.81 per share which gives it a market capitalisation of HK$2.02 billion.

Net proceeds from the global offering will be used by IHR to fund 200 new store openings in Hong Kong and other areas, renovate existing stores, improve logistics and warehousing, upgrade information technology systems and for working capital and other general corporate purposes.

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