Fraspens, a Chinese outdoor brand, is hoping to raise about £4 million (€5.01m-$6.73m) on the AIM stock exchange in London, to finance its expansion into more Chinese provinces and invest in marketing. The company describes itself as the seventh-largest outdoor brand in China, with sales equivalent to £39 million (€48.88m-$65.61m) last year and profit of about £6.6 million (€8.27m-$11.10m). About 65 percent of the turnover came from apparel, the remainder from footwear and accessories.

Established in 2007 in Na'an City, Quanzhou, in Fujian province, Fraspens operates with 16 exclusive distributors supervising 580 branded retail outlets, mostly in department stores. Its coverage reaches 14 unspecified provinces but it wants to use the proceeds from the float to support the brand and expand into more provinces. An adviser said that the company, which outsources its production, is owned with a majority by its founder and chief executive, John Bautista.

The company's figures are backed up by a report it ordered from Euromonitor International, which raised some eyebrows among industry watchers. It states that Fraspens is the third-largest Chinese outdoor apparel brand by revenue, behind Toread and Telent, in a market that expanded by 28 percent last year to reach an estimated 11.1 million yuan renminbi (€1.34m-$1.80m) at retail level. The Euromonitor report predicts that the entire outdoor market will expand from RMB 19.6 million (€2.36m-$3.17m) in 2014 to RMB 48.5 billion (€5,848.22m-$7,849.13m) in 2018. Fraspens executives told The Financial Times that the company hopes to have a market capitalization of about £40m (€50.14m-$67.30m) at listing and that longer term plans may include listing on Hong Kong's main board within the next three to five years.