Shoemaker plans US$200m offering

Women’s footwear retailer Belle Holdings is looking to raise US$200-300 million in a Hong Kong IPO during the second half of the year, the Standard of Hong Kong reported, citing market sources. The company, in which Hong Kong-listed shoe retailer Mirabell has a 6% stake, owns 2,400 footwear stores in China, 1,000 of these operating under the name �Belle�, 600 as �Teenmix�, 400 as �Tata� and 350 as �Staccato�. It focuses mainly on classic designs that appeal to working women able to spend around US$80 on a pair of shoes. Morgan Stanley took a stake of unspecified size in the company during the corporate restructuring required for it to list.