Pursuits
Global Brands Begins Trading After Li & Fung Spinoff
This article is for subscribers only.
Global Brands Group Holding Ltd., a brands management unit spun off from Li & Fung Ltd., begins trading in Hong Kong today.
Global Brands, which manages over 350 labels including Coach Inc. shoes and licensed characters such as Angry Birds and Spiderman, closed at HK$1.80, lower than its opening price of HK$2.09. The company has a market value of HK$15 billion ($1.9 billion) based on the closing price.