House & Home
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Published in House and Home on Tuesday, May 10th 2011 at 4:16 GMT by Market Wire🞛 This publication is a summary or evaluation of another publication
NEW YORK--([ BUSINESS WIRE ])--Coach, Inc. (NYSE:COH), a leading marketer of modern classic American accessories, today announced its intention to pursue a dual listing of its shares on the Hong Kong Stock Exchange through the issuance of Hong Kong Depository Receipts. The company noted that no additional shares would be issued, nor capital raised though this listing.
Lew Frankfort, Chairman and Chief Executive Officer of Coach, Inc., said, aWea™re very enthusiastic about the prospect of a dual listing on the Hong Kong Stock Exchange. This listing, if approved, will raise awareness of the Coach brand among investors and consumers in the China market as well as throughout Asia. It also clearly signals the importance of China to Coach - our largest geographic opportunity. Based on our rapid growth, it is clear that the Coach proposition is resonating with Chinese consumers, who are participating in this category in increasing numbers.a
The company intends to file a listing application with the Hong Kong Stock Exchange, which, if approved, will allow fora planned listing before calendar year-end. Further, based on this timing, Coach believes it would be the first U.S. domestic issuer to do a secondary listing in Hong Kong.
Coach, with headquarters in New York, is a leading American marketer of fine accessories and gifts for women and men, including handbags, womena™s and mena™s small leathergoods, business cases, weekend and travel accessories, footwear, watches, outerwear, scarves, sunwear, fragrance, jewelry and related accessories. Coach is sold worldwide through Coach stores, select department stores and specialty stores, through the Coach catalog in the U.S. by calling 1-800-223-8647 and through Coacha™s website at [ www.coach.com ]. Coacha™s shares are traded on the New York Stock Exchange under the symbol COH.
This press release contains forward-looking statements based on management's current expectations. These statements can be identified by the use of forward-looking terminology such as "may," "will," "should," "expect," abelieve,a "intend," "estimate," "are positioned to," "continue," "project," "guidance," atarget,a "forecast," "anticipated," or comparable terms. Future results may differ materially from management's current expectations, based upon risks and uncertainties such as expected economic trends, the ability to anticipate consumer preferences, the ability to control costs, etc. Please refer to Coacha™s latest Annual Report on Form 10-K for a complete list of risk factors.
