Shandong Ruyi rules out Lycra sale in favour of IPO amid debt crisis

Shandong Ruyi rules out Lycra sale in favour of IPO amid debt crisis

Photo: Lycra website

Fashion conglomerate Shandong Ruyi, best known for its ambition to be the LVMH of China, has brushed aside a sale of textile maker Lycra proposed by Lycra’s creditors and is instead looking to publicly float the business, two people with direct knowledge told Reuters.

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