iFashion is also weighing the possibility to list the company in a European stock exchange, after initial plan to list in Asia or Australia

Singapore-based fashion e-commerce company iFashion is looking to raise US$10 million in a listing exercise, according to a report by Dealstreet Asia.

iFashion is expected to be valued US$40-50 milion in terms of market capital through the IPO.

Initially planned to happen in April or May, the IPO plan has been pushed back to end of 2017.

iFashion is also looking to enlist the company in a European stock exchange such as the UK or Germany, despite earlier reports of plan to list the company in Singapore, Hong Kong, or Australia.

“I think there is a lot of interest from Europe in terms of the Asian growth market. There are various reports that have said Southeast Asia is the region with the fastest growth for e-commerce segment in the world. So obviously, there is a lot of interest in the Asia-based internet companies,” said iFashion Co-Founder and Fatfish Internet Group CEO Kin-Wai Lau.

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He also stated that the Australian listing plan “may or may not” happen.

Acquisitions have always been a part of iFashion’s strategy as the company is heading towards IPO, and the company stated that it is pursuing a few more acquisitions before the listing.

Its latest purchase was Singapore-based lifestyle marketplace Megafash in February for US$2.23 million.

In 2016, it has also acquired O2O fashion marketplace Dressabelle for US$5.5 million, online marketplace for retail spaces INVADE for US$1.1 million, and Malaysian fashion brand NOSE for US$3.7 million.

“We believe M&A is one way to grow in the region as the market is fragmented and (there are) different cultures around the border. We actually encourage and actively build lot of M&A ventures,” said Lau.

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Source: e27