Zuoan Fashion Limited, a casual menswear designer and manufacturer in China with 10 distributors and 31 direct stores, announced terms for its IPO on Wednesday. The Shanghai-based company plans to raise $79 million by offering 6.9 million ADSs at a price range of $10.50-$12.50. At the mid-point of the proposed range, Zuoan Fashion Limited will command a market value of $326 million. Zuoan Fashion Limited, which was founded in 1999 and booked $104 mil in sales in 2009, plans to list on the NYSE under the symbol ZA. Cowen & Company is the lead underwriter on the deal, which is expected to price during the week of 1/24/11. Zuoan Fashion Limited is the sixth company to announce terms for its upcoming IPO so far today.
