Li Feng Will Seek Acquisition Opportunities In Shoe Industry

　　香港最大出口贸易商--利丰有限公司(0494.HK:行情)周二表示,将在鞋业及化妆品业寻求并购机会,并认为人民币可能升值的影响不大.当问到是否会有令人振奋的并购宣布时,利丰总裁乐裕民(BruceRockowitz)表示,"百分之百."他周二接受路透专访时表示,未来四五个月利丰会有许多大消息.

After the 400 million dollar bill issued by Li Feng, about 900 million US dollars will be available in the future. The company is looking for acquisitions in the makeup industry and footwear industry. Li Feng announced on Friday that it plans to issue a $400 million bill due in 2020 with an annual interest rate of 5.25%. The proceeds will be used for acquisition and business development.

"(China) the adjustment of the exchange rate will probably be far smaller than what many people are talking about now. It may be in 3-4% and will gradually adjust. This is not a bad thing for us." Lok Min said. Li said that Li may accelerate its capacity to move its capacity from coastal areas to China and neighboring countries such as Vietnam, India, Kampuchea and so on. He does not want to disclose whether the company will still achieve revenue and profit targets this year because of uncertainty in Europe and possible appreciation of the renminbi.

Li Fung shares rose 13.8% this year, the Hang Seng Index.HSI fell 7.9%. Li Feng on Tuesday fell 1.5%.