Thomas Bryson makes strong debut on ASX

Thomas Bryson International Ltd, a China-based manufacturer and retailer of fabrics, home textiles and luxury decor, has made a solid debut on the Australian securities exchange.

Shares in the company began trading at 51 cents, up from the 50 cent initial public offer price.

By 1206 AEDT shares in Thomas Bryson were up five cents, or 10 per cent, at 55 cents.

The company, which is based in Shaoxing city near Shanghai, said it had raised $6.85 million through the sale of about 14 million shares at 50 cents per share.

The minimum subscription of $5 million was exceeded, it said.

The listing is only the fourth such listing of a Chinese company on the ASX since 2007.

The company said the high-end fabric and textile sector was experiencing strong growth in China as a direct result of the boom in affluent families in the country.

"The company has recognised the increasing spending power and brand awareness of the most affluent households in China, in all consumer product ranges, including home furnishings," it said.

Managing director and founder Jack Huang said the majority of the capital raised would finance the establishment of five planned Thomas Bryson specialty stores in China and internationally, followed by additional stores in other major cities around the world.

The company already has established one high-end retail outlet in China.

Thomas Bryson's budgeted revenue for the 2009 calendar year is $70 million.