Busy For You, a Chinese snack shop chain, is considering an initial public offering that could raise $100 million to $200 million, according to people familiar with the matter.
(Bloomberg) — Busy For You, a Chinese snack shop chain, is considering an initial public offering that could raise $100 million to $200 million, according to people familiar with the matter.
The company, whose name literally translates as Snack Very Busy, is weighing a listing in China’s domestic A share market or in Hong Kong, the people said, asking not to be identified as the information is private. An IPO could happen as early as next year if the company chooses Hong Kong, where the regulatory process is quicker, one of the people said.
Deliberations are preliminary and details of the offering such as the size and timing could change, the people said. A representative for Busy For You said the company has no specific plans for a listing venue or size.
Founded in 2017 in central China’s Hunan province, the snack maker counts Gaorong Capital and Sequoia China as backers, its website shows. It has opened more than 3,000 stores since inception, adding about 1,000 from November 2022 to June this year, according to the site.
(Updates with company response in third paragraph.)
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