Latest news with #GreenTeaGroup
South China Morning Post
16-05-2025
- Business
- South China Morning Post
Green Tea makes tepid trading debut in Hong Kong as traders gird for CATL's IPO next week
Green Tea Group had a tepid trading debut in Hong Kong on Friday, as traders sidestepped its small stock sale in anticipation of the world's largest initial public offering (IPO) next week. Advertisement Shares of the Hangzhou-based restaurant chain began trading at HK$7.19 per share, unchanged from the offer price, before plunging 7 per cent in a declining market to an intraday day low of HK$6.69. The company raised HK$847 million (US$108.5 million) through selling 68 million shares. Traders are looking forward to the trading debut on Tuesday of Contemporary Amperex Technology (CATL), the world's largest maker of battery packs for electric vehicles. CATL's US$5.3 billion stock offer, priced at HK$263 per share at the high end of its price range, is the world's largest this year, and the biggest sale in Hong Kong in four years. Auntea Jenny's co-founder and chairman Shan Weijun (right) at the company's listing ceremony on the Hong Kong stock exchange on May 8, 2025. Photo: Aileen Chuang Fifteen companies raised HK$17.7 billion in Hong Kong in the first quarter of this year, helping the city claw its way to the third spot in the global ranking of IPO destinations, according to KPMG's data. Advertisement
Yahoo
28-04-2025
- Business
- Yahoo
Green Tea Group secures HKEX approval for IPO
Mainland China restaurant chain the Green Tea Group has secured approval from the Hong Kong Stock Exchange (HKEX) for an initial public offering (IPO) on its fifth attempt in four years. The company, which first applied for a Hong Kong listing in March 2021, is yet to announce the amount it aims to raise, as reported by the South China Morning Post. A China Securities Regulatory Commission notice dated 28 March 2025 reveals that the chain plans to offer almost 213 million ordinary shares in Hong Kong. Chinese firms must gain approval from this regulatory body before pursuing listings abroad. Green Tea Group intends to utilise the funds from the IPO to expand its network of restaurants, set up a centralised facility for food processing, enhance its information technology system along with associated infrastructure, and bolster its working capital. The company applied in December 2024 to leverage the late-year revival in the IPO market. Established in 2008, Green Tea Group operates 489 restaurants in 24 cities in mainland China, and made its Hong Kong debut in September 2024 at Hysan Place, Causeway Bay. Despite accelerating its pace of new store openings, Green Tea Group's revenue saw a modest 7% increase in 2024 to HK$3.8bn ($521m) - down from its rise of more 50% in 2023 when consumption surged post-pandemic. The company also reported a more than 10% decline in same-store sales in 2024 - a sharp contrast to the 26% rise in 2023. It does not expect the ongoing US-China trade conflict to affect it directly, due to lack of ties to the US, but acknowledges potential indirect impacts on its business if the dispute harms the economy and changes consumer habits. "Green Tea Group secures HKEX approval for IPO" was originally created and published by Verdict Food Service, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
South China Morning Post
24-04-2025
- Business
- South China Morning Post
Fifth time lucky? Chinese restaurant chain Green Tea makes another Hong Kong IPO attempt
Mainland Chinese restaurant chain Green Tea Group has received approval from the Hong Kong stock exchange for an initial public offering (IPO), marking its fifth attempt in four years to go public in the city. Advertisement The Hangzhou-based budget-dining chain said in a filing on Wednesday that the exchange's listing committee had approved the proposal. While the company has not yet disclosed the amount it intends to raise, a notice from the Chinese securities regulator on March 28 showed that Green Tea planned to offer nearly 213 million ordinary shares in Hong Kong. Chinese companies are required to obtain approval from the China Securities Regulatory Commission before pursuing an overseas listing. Green Tea plans to use the IPO proceeds to expand its restaurant network, establish a centralised food processing facility, upgrade its information technology system and related infrastructure, and for working capital. Hong Kong ranked third globally for IPOs in the first quarter, with 15 companies raising HK$17.7 billion. Photo: Jonathan Wong Green Tea filed its Hong Kong listing application for the first time in March 2021. The company submitted its most recent application in December, aiming to capitalise on the revival in the IPO market late last year. Advertisement
