The Hong Kong bourse approved Green Tea Group's proposal for an initial public offering in the city, according to a post-hearing information pack released by the bourse Wednesday.
This is the fifth attempt made by Green Tea to seek an IPO in Hong Kong, the South China Morning Post reported separately Thursday.
The restaurant operator looks to offer nearly 213 million shares in Hong Kong, the SCMP reported, citing documents from the China Securities Regulatory Commission.
It plans to use its IPO proceeds to boost its restaurant network, finance capital expenditures for its planned centralized food processing facility in Zhejiang, for IT upgrades, and for working capital.
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