Home textile firms plan floats

Chinese home textile companies are lining up for initial public offerings (IPO) this year, which may change the face of the industry, analysts said.

Luolai, the Shanghai-based high-end home textile supplier, started its new stock subscription yesterday, putting it in the vanguard of those seeking a stock market listing.

Luolai has been marketing itself avidly on the Internet. "We have set the IPO price at 27.16 yuan per share. Shares are expected to debut on the Shenzhen bourse around Sept 10," said Wu Xianzhong, Luolai's board secretary.