In the year 2024, the food, beverage, and catering industry in China is experiencing a significant surge in Initial Public Offerings on the Hong Kong Stock Exchange.
According to a report by Bloomberg on January 22, 2024, Shenzhen Gantang Ming Shan Catering (深圳市甘棠明善餐饮有限公司,“GTMS”) could launch an IPO on the Hong Kong Stock Exchange later this year. GTMS is the entity behind the renowned Chinese fish restaurant Tanyu (探鱼). GTMS currently has valuation of approximately RMB 7 to 8 billion, and may seek to raise several hundred million dollars in a share sale. Details of the IPO have not been disclosed. Chinese International Capital Corp is taking part in the IPO listing. Earlier this month, Mixue Group, an ice-cream and tea chain has filed its application with the Stock Exchange.
On 16 January 2024, it was reported that Xiaocaiyuan International (小菜园, “Xiaocaiyuan”) from Anhui province in China filed an application for listing on the Hong Kong Stock Exchange. The chain store operates 548 restaurants across the country, specialising in Anhui cuisine. The Tongling-based chain store aims to carry out main board listing, with Huatai International and UBS Group acting as the joint sponsors. The net proceeds from the proposed IPO would be used to continue expanding its store network, enhancing geographical coverage and increasing market penetration.
Since October 2023, it is reported that the Chinese hot-and-sour noodle chain, Maliuji (麻六记) has been working with CMB International and Huatai Securities on preparations for a listing on the Hong Kong Stock Exchange. Maliuji has selected banks for its IPO listing. As of present date, there are at least 21 outlets of Maliuji established in major cities such as Beijing and Shanghai, and the company planned to open 12 stores this year. Founded in 2020, Maliuji has emerged as one of China’s fastest-growing restaurant chains. However, this company does not have an official website.
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