Toys “R” Us Inc., the retailer that filed for bankruptcy in North America, has been exploring options for its growing Asian business including a potential initial public offering, Bloomberg News reported today. The U.S. chain and its local joint venture partner, the billionaire Fung brothers, have been speaking with investment banks to study the feasibility of listing the Asian business on the Hong Kong bourse, according to the people. A deal could value the unit at as much as $2 billion. Toys “R” Us and some of its North American subsidiaries filed for bankruptcy last month, though its Asian unit wasn’t included in the proceedings. Deliberations are at an early stage, and Toys “R” Us hasn’t decided which path to pursue, the people said. Toys “R” Us owns about 85 percent of the Asian venture while Fung Group, the private holding company of Hong Kong businessmen Victor and William Fung, holds the remainder.
