[THE INVESTOR] E-Land Group’s plans for pre-IPO placement for its Chinese branch E-Land Fashion China Holdings has fallen apart over its plans to sell off the brand Teenie Weenie.

E-Land has been working on pre-IPO placements for its Chinese arm hoping to raise about 1 trillion won (US$842 million). In the process, the company decided to sell Teenie Weenie, a brand under E-Land International Fashion Shanghai. 


Although the company hopes to raise about 2 trillion won from the sale of Teenie Weenie, general partners who had been working on the pre-IPO have called off negotiations with the company.

E-Land Group has been working on reducing its 5.5 trillion won debt. As part of the plans, the company is selling off its retail chain Kim’s Club, a New Core Department Store, and has been pushing for pre-IPO of E-Land China.

By Choi He-suk (cheesuk@heraldcorp.com)