Clothing manufacturer China Fashion Holdings Ltd has launched an initial public offering in Singapore in order to raise SGD2.6m.

The offering consists of 18 million new shares and 4 million vendor shares, with 1 million for public offer and 21 for placement.

Net proceeds will be used to help the company expand, and to increase its working capital.

The offering will close on 29 November, with trading of the shares expected to begin on 1 December.