Xiaocaiyuan International Holding (HKG:0999) launched its initial public offering in Hong Kong Thursday, seeking to raise as much as HK$860.0 million.
The Chinese restaurant chain is offering 101,180,800 shares at HK$8.50 apiece.
The issuer expects to disclose the allocations on Dec. 19. It will then start trading on the Hong Kong bourse on Dec. 20, according to a Thursday filing.
Proceeds from the deal will be used to expand the restaurant network, strengthen the supply chain, upgrade smart devices and digital systems, and increase working capital and general corporate purposes.
Huatai International, UBS, CMB International, Guoyuan International and several others are the joint bookrunners of the IPO.
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