Jimmy Choo Plc owner JAB Holdings will raise 141 million pounds (RM745 million) selling shares in the luxury shoemaker at the bottom of its planned price range, shrugging aside a drop in global equity markets that has caused some companies to cancel listing plans.

JAB, the investment arm of the billionaire Reimann family, will offer a 25.9 percent stake in the maker of US$1,995 (RM6,554) Lust peep-toe sandals for 140 pence a share, London-based Jimmy Choo said today in a statement. The shares were originally offered to investors in a range of 140 pence to 180 pence, a person with knowledge of the matter said earlier this month. Trading commences today.

Jimmy Choo, which has a value of 546 million pounds at the offer price, is testing investor confidence after weakening stock markets caused other UK companies to shelve plans for initial public offerings (IPOs). Homebuilder Miller Homes Plc and lender Aldermore Group Plc have both postponed proposed stock market listings this month. The IPO also comes amid weakness in luxury shares as subdued spending by Chinese shoppers causes industry growth to slow.

The IPO reflects “confidence in our ability to outperform the luxury shoe market”, Jimmy Choo chief executive officer Pierre Denis said in the statement.

Choo’s revenue is growing at a high double-digit pace in China, where it aims to expand, and more than 20 percent in Japan, according to Denis. The company, whose shoes were made famous by the character Carrie Bradshaw in ‘Sex and the City’, benefits from high brand recognition and limited distribution in Asia, where consumers are tiring of widely available brands, according to Neev Capital.

Jimmy Choo follows luxury companies including Moncler SpA and Brunello Cucinelli SpA in selling a stake on European stock markets in the last two years.

Choo, which was acquired by private-equity investors three times before being bought by JAB for more than 500 million pounds in 2011, sells women’s and men’s shoes, handbags and accessories in more than 100 stores worldwide.

JAB reorganised its business in June, bringing brands including Choo and jacket-maker Belstaff under direct management in a move it said reflected an increasing commitment to luxury goods. The shoemaker’s namesake designer left in 2001, followed by co-founder Tamara Mellon a decade later.

Bank of America Corp’s Merrill Lynch International is organising the sale as sole sponsor and global coordinator. Merrill and HSBC Bank Plc are joint bookrunners and BHF-Bank is co-lead manager.

- Bloomberg