China-based Naibu, the tenth largest sportswear brand in the country, has unveiled plans to float on AIM later this month with a £112 million market value.
Founded in 2002 by Huoyan Lin, the firm designs, manufactures and supplies Naibu branded sports shoes, clothing and accessories.
The company is planning to raise £50 million, which would make it the largest float of the year on the junior market.
Naibu employs 2,000, however the funds will be used to upgrade existing facilities as well as help establish new production capabilities in central and West China. Naibu expects the investment to boost shoe production capacity, but also allow in-house clothing production.
Initially aimed at students and young adults, Naibu has evolved to a brand which now also targets both young business travellers and holiday makers.
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