SYDNEY: SurfStitch, the online clothing store formerly owned by Australian firm Billabong International Ltd, plans to raise up to A$93mil (US79.34mil) in a partial share market listing, a source with direct knowledge of the sale said.
The sale would likely value the company higher than it was worth when struggling surfwear firm Billabong said it netted A$35mil from the sale of its 51% stake in August, highlighting the urgency of Billabong’s exit. — Reuters
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