Belle Fashion Refiles for Hong Kong IPO After Turning Business Around

What’s new: Belle Fashion Group has refiled for a Hong Kong IPO, as China’s biggest fashion footwear company gets ready to return to the stock market after posting its highest net profit margin in nearly three years.

“We have achieved the initial goals of our transformation, which has resulted in our business recovering from the decline at the time of the privatization to growth,” the company said in a prospectus filed Friday with the Hong Kong Stock Exchange. The footwear retailer was taken private by a buyout group led by Hillhouse Capital and CDH Investments in 2017.