Core Viewpoint - The company, Mingming Hen Mang, is planning a global offering of 14.1011 million H-shares, with a price range between HKD 229.6 and HKD 236.6 per share, aiming to list on the Hong Kong Stock Exchange on January 28, 2026 [1] Group 1: Company Overview - Mingming Hen Mang is a mature and steadily growing food and beverage retailer in China, recognized as the largest chain retailer in the country by gross merchandise value (GMV) in the leisure food and beverage sector for 2024 [1] - The company operates a network of 19,517 stores across 28 provinces and all county-level cities in China, with approximately 59% of its locations situated in county towns and rural areas [1] - The GMV for 2024 is projected to reach RMB 55.5 billion, with a reported GMV of RMB 66.1 billion for the first nine months ending September 30, 2025, reflecting a year-on-year growth of 74.5% [1] Group 2: Investment and Use of Proceeds - Assuming a median offering price, the company expects to net approximately HKD 3.124 billion from the global offering (excluding the over-allotment option) [2] - The allocation of the net proceeds includes approximately 25% for enhancing supply chain and product development capabilities, 20% for upgrading store networks and empowering franchisees, 20% for brand building and promotional activities, 20% for improving technological capabilities and digitalization, 5% for strategic investments and acquisition opportunities, and the remaining 10% for working capital and general corporate purposes [2] Group 3: Strategic Partnerships - The company has established cornerstone investment agreements with notable investors including Tencent, Temasek, BlackRock, Fidelity, Bosera International, E Fund, and Taikang Life, with these investors agreeing to subscribe to a total of approximately USD 195 million of the offered shares [1]
鸣鸣很忙招股 拟全球发售1410.11万股H股
Zheng Quan Shi Bao Wang·2026-01-20 00:40