China’s Noodle Chain Picks Banks for Hong Kong Initial Public Offering

Chinese hot-and-sharp noodle chain Maliuji has chosen banks for an expected first sale of stock in Hong Kong that could happen within one year from now, as per individuals acquainted with the matter.

The organization is working with CMB International and Huatai Protections Co. on arrangements for a posting, individuals said, asking not to be recognized as the data is private. Subtleties, for example, the Initial public offering size and the organization’s valuation have not yet been up in the air as the noodle chain keeps on growing quickly, individuals said.

Consultations are progressing and Maliuji hasn’t gone with any last choice in regards to its Initial public offering plans, individuals said. Agents for CMBI, Huatai and Maliuji didn’t answer demands for input.

Established in 2020, Maliuji has arisen as one of China’s quickest developing café networks thanks to the tenacious advancement by its pioneers via virtual entertainment like Douyin, the Chinese form of TikTok. The firm, which is well known for its hot and sour noodles, doesn’t have an authority site.

Maliuji had 21 outlets in significant urban communities including Beijing and Shanghai and wanted to open another 12 stores this year, its CEO An Yong said in a meeting with China News in June. The organization additionally sells its products including noodles and frozen buns for online stages like Alibaba Gathering Holding Ltd’s. Taobao.