Toys 'R' Us owner aims to tap enthusiasm for shop investments
LI & Fung (Hongkong) plans to list its retail arm, comprising names such as Toys 'R' Us and Circle K, in Hongkong within the next 20 months.
The controlling Fung family, which listed Li & Fung Ltd last year, is planning to tap the stock market's enthusiasm for retailing issues.
Other companies that rely on domestic consumer demand have listed successfully recently, including Cafe de Coral, Fairwood and Lam Soon Foods.
Group managing director William Fung Kwok-lun said the listing would include household names Fotomax and Bake House, as well as Toys 'R' Us and Circle K. ''By 1995, we'll be able to list our retail operation,'' he said.
The retailing arm holds 50 per cent of the local Toys 'R' Us chain, 80 per cent of the local Circle K, 70 per cent of Fotomax and 51 per cent of Bake House.
Mr Fung added that the group was looking to take over another retail operation.