26.06.2019 12:25
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rauIt is not yet known what exchange will enter the company. Shares’ sale may occur in Hong Kong or the United States, although the timing has not yet been determined.
Retail stores’ chain of various goods specializing in products for home and household Miniso Co is planning an initial public shares’ offering. It is planning to raise about $1 billion, reports Bloomberg, citing its own sources.
The brand was founded by famous Japanese fashion designer Jounia Miyake and Chinese businessman Yi Goufu in 2013. The company manufactures its products in Japan and has more than 3,500 stores in 80 countries, including China, the United States, Brazil, the United Arab Emirates and Ukraine. In 2018, the company’s revenue amounted to 17 billion yuan ($2.5 billion).
“Also last year Tencent Holdings Ltd. and Hillhouse Capital invested 1 billion yuan in the retailer in the external financing’ first round”, — the newspaper writes. And it adds that now the discussion about entering the IPO is at an early stage. Therefore, the proposal’ details and the desired fundraising amount may change.
Source: investory.news
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