(This Oct 7 story corrects valuation figure to $5.71 billion, not $10.18 billion, in paragraph 3)
(Reuters) – Retailer Miniso Group Holding Ltd, which is backed by Tencent Holdings Ltd <0700.HK>, is looking to raise up to $562.4 million in its initial public offering in the U.S., a regulatory filing showed on Wednesday.
The China-based company said it would sell 30.4 million American Depositary Shares priced between $16.50 and $18.50 per ADS. Each ADS would represent four of Class A ordinary shares. (https://bit.ly/3d4LGS7)
At the top end of the range, Miniso would be valued at $5.71 billion.
Miniso’s plans to go public come on the heels of numerous blockbuster IPOs this year, including those of Palantir Technologies
in recent weeks.
A number of Chinese companies, which have debuted in U.S. stock markets this year, have also attracted strong investor interest. Earlier this year, SoftBank-backed KE Holdings