China Gaoxian Fibre Fabric Holdings has launched the largest IPO on the Singapore Stock Exchange seen this year. Tapping into the Singaporean market, China Gaoxian, a producer and seller of premium differentiated fine polyester yarn and warp knit fabric has, listed in a US$83.2m global offering.

The group is represented by Beijing firm Tian Yuan and Singapore firm Rajah & Tann, on PRC and Singapore law respectively. Tian Yuan was also involved in the world’s second-largest public offering earlier this year – that of China Metallurgical Corporation, valued at US$5.3bn.

Located in China’s Zhejiang and Fujian provinces, China Gaoxian is relatively optimistic about the prospects of the domestic market in China given its government’s packages to stimulate domestic consumption, higher export rebates for the textile industry and initiatives to increase the income levels of the rural population.