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Deepti Sri · · 1 min readSources: Chinese fresh-food chain startup mulls Hong Kong IPO this year
“Chinese fresh-food chain operator Qiandama is considering an initial public offering in Hong Kong as soon as this year,” Bloomberg reported, citing people familiar with the matter.
Details:
- Qiandama may push through with a potential share sale, raising about US$400 million to US$500 million.
- The company could also raise US$305 million in a pre-IPO financing round, pushing the value of the firm up to US$3.81 billion.
Context:
- Launched in 2012, Qiandama recorded over US$1.07 billion in revenue in 2019 and also runs over 2,000 stores as of July 2020.
- In December 2019, the company banked US$152.6 million in its series D round from investors including Genbridge Capital, and Co-stone Capital among others.
Editing by Collin Furtado
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