Esprit Holdings will use the 200 million euros (about HK$1.48 billion) raised from the planned spin-off of its European operations to expand its store network globally.
The company planned to re-enter the British market and would also explore new markets such as South Korea and Japan, executive director and group chief financial officer John Poon said yesterday.
Mr Poon's comments came after shareholders at a special general meeting unanimously approved the spin-off and separate listing of Esprit Europe on the Frankfurt Stock Exchange.
The company said it expected about 25 per cent of the shares of Esprit Europe to be offered to retail investors in Germany and institutional investors across the world except the US, Canada and Japan.
That values the business at about 800 million euros, more than three times the US$238 million Hong Kong-listed Esprit paid for the operations in 1996.
Esprit Europe, which to June 30 last year contributed 69.3 per cent of the group's profit, will own the wholesale and retail distribution arms of Esprit's operation on the continent.
The shares are expected to be listed on the Frankfurt exchange before next month.
