Does the ceo of GCAP have anything to do with the upcoming $800M IPO of Belle Holdings? Majority ownership of GCAP is held by Sumichrast thru Belle Holdings?
"4/17/00 An investment group led by Chairman and CEO Martin A. Sumichrast has acquired 2.7 million shares of Global Capital Partners Inc. common stock for $6.1M. The institutional brokerage plans to use proceeds to grow its domestic retail units, expand its online trading presence in Europe through unit Sutton Online, enhance its investment in MoneyZone.com and further expand its investment banking and brokerage services in Western Europe.
The investment was made through Belle Holdings, a newly formed company owned by Sumichrast. (PR Newswire)'
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Company profile
Global Capital Partners Inc operate a diversified, investment banking and securities network.
CONTACT: Martin A. Sumichrast (CB/CEO/PR)
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Belle Holdings aims to raise $800m in IPO
By Sundeep Tucker in Beijing
Wednesday Nov 1 2006 17:25
Belle Holdings, China's leading women's footwear retailer, is seeking to raise $800m in an initial public offering that underscores rising investor appetite for stocks focused on mainland consumer spending.
The company, which focuses on making and selling top-of-the-range products, is undergoing a restructuring and plans to list in Hong Kong in the first half of next year.
Belle operates and owns more than 2,500 stores on the mainland and in Hong Kong, of which 1,000 stores are under its flagship Belle brand while the rest operate under the names Teenmix, Staccato and Joy & Peace.
Belle had been expected to list its retail operations but has now decided to include its shoe manufacturing division as part of the offering, a move that triples the likely size of the capital-raising.
Belle has chosen Morgan Stanley (AMEX:MWD) and Credit Suisse (NYSE:CSR) for banking advice, although both yesterday declined to comment. Morgan Stanley has a direct stake of about six per cent in Belle.
Belle is expecting to use the proceeds to expand its mainland operations. Analysts believe that mainland consumer plays will continue to benefit from strong consumer spending, especially on luxury goods because of China's fast-growing economy.
China's retail sector is growing fast, with companies engaged in a race to build scale and expand presence across the mainland.
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