Chinese textile group Shandong Ruyi is said to have selected Bank of America Merrill Lynch, JP Morgan and KKR Capital Markets as joint global coordinators for the float of its owned fashion group SMCP in Paris.

Different sources quoted by Reuters said BNP Paribas was also picked to be among the syndicate.

Sources familiar with the matter said on Friday that the French company behind fashion brands Sandro, Maje and Claudie Pierlot, is expected to list its shares this autumn.

SMCP's earnings before interest, tax, depreciation and amortisation (EBITDA) rose 22 percent to 130 million euros in 2016. Based on these figures as using similarly fast-growth companies in the industry such as Moncler, the market expects SMCP to be worth around 2 billion euros.

Earlier this summer, the fashion company said it was considering a listing in Paris but that Shandong Ruyi would remain the majority shareholder in the long term. Last week, SMCP´s current owner, Shandong Ruyi, said it planned to sell a stake of up to 1.9 percent in the company before the end of the year.

Shandong Ruyi bought a majority stake in SMCP from KKR for around 1.3 billion euros including debt, according to sources in 2016. At the time, the Chinese group said the deal would combine the French firm's fashion know-how with its own business network in China, the world's second largest economy, reported Reuters.





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