Hong Kong’s Fung Group Weighs Retail Unit IPO in Singapore, Sources Say

Fung Group is exploring an initial public offering in Singapore for its retail brands unit that could value the business at about $500 million, according to people with knowledge of the matter.

The Hong Kong-based consumer goods company is working with a financial adviser on the potential first-time share sale of its unit Branded Lifestyle Asia, the people said, asking not to be identified as the process is private. The Fung Group is seeking to raise more than $100 million from the IPO of its business housing retail brands in South Korea and Taiwan, in a listing that could take place as early as this year, the people said.