There's an unbelievable amount of equity coming to the public markets in China these days. Everyone knows that though. Anyway, here's the latest I've come across. China Quanjude (Group) Co Ltd, a popular Peking Duck chain:
China Quanjude (Group) Co Ltd, a famous Peking roast duck restaurant chain, kicked off its initial public offering (IPO) on Friday.
According to its public notice, the company plans to issue up to 36 million shares on the Shenzhen Stock Exchange and the preliminary IPO price inquiry will start on October 29 and end on October 31.
Quanjude plans to raise at least 380 million yuan. Of the total, 217.96 million yuan will be used to remodel two chain restaurants and set up five chain stores and one hotel.
And of course:
State-controlled companies hold 69.45 percent stake of Quanjude, of which Beijing Capital Tourism Group holds a 65.47 percent stake.
Maybe it'll trade like Krispy Kreme did when it first launched went public during the bubble.
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