Chinese retailer Busy Ming, opens new tab said on Tuesday it raised HK$3.67 billion ($470.50 million) in its Hong Kong initial public offering after pricing its shares at HK$236.60 apiece.
The company said it was offering 15.5 million shares in the IPO at the top end of its marketed range, up from the previously offered 14.1 million shares.
The snack retailer said it would generate net proceeds of HK$3.53 billion.
Funds from the IPO would be used toward supply-chain improvements and product development, as well as upgrading its store network and supporting franchisees, it had said earlier.
The company is betting that its strategy of offering snacks and beverages at ultra-low prices will help it win over investors as it has done with customers.
Cornerstone investors include Tencent, Temasek, BlackRock, among others, Busy Ming said in its statement.
Headquartered in Changsha and in business since 2017, Busy Ming has grown into a national player in China’s fragmented snack market by focusing on small pack sizes and budget-friendly pricing. It operates the Busy for You and Super Ming chains.
The listing comes close on the heels of Hong Kong recording its strongest IPO year in 2025 since 2021, with companies raising $36.5 billion from 114 new listings, according to data compiled by LSEG.
Earlier this year, analysts said the Hong Kong IPO market would remain vibrant, with IPO funds raised anticipated to reach HK$350 billion in 2026.
Busy Ming is expected to start trading on January 28.
Reuters
