China’s Miniso Group Holding is planning to list on the Hong Kong stock exchange, as the New York-listed household and consumer goods retailer seeks a listing closer to the mainland.
The Guangzhou-based retail chain submitted its application to the Hong Kong stock exchange at the end of last month. Miniso’s plans for a dual primary listing in Hong Kong follow in the footsteps of fellow Chinese companies like electric-vehicle makers Li Auto and Xpeng, which are looking to Hong Kong’s bourse to offset the risk of being delisted from US exchanges.
“Looking ahead in the post-pandemic era, we are more capable and highly confident in constantly delivering long-term values to consumers and investors with our constant offering of products that are more appealing, useful and playful,” said Guofu Ye, Founder, Chairman, and Chief Executive Officer of Miniso, at the time of the earnings update last month.
Founded in 2013, Miniso operates more than 5,000 stores across 100 markets globally, with some 3,100 stores in China.
