Green Tea Group secures HKEX approval for IPO

4 hours ago 1

GlobalData

Mon, Apr 28, 2025, 8:28 AM 2 min read

Mainland China edifice concatenation the Green Tea Group has secured support from the Hong Kong Stock Exchange (HKEX) for an archetypal nationalist offering (IPO) connected its 5th effort successful 4 years.

The company, which archetypal applied for a Hong Kong listing successful March 2021, is yet to denote the magnitude it aims to raise, arsenic reported by the South China Morning Post.

A China Securities Regulatory Commission announcement dated 28 March 2025 reveals that the concatenation plans to connection astir 213 cardinal mean shares successful Hong Kong.

Chinese firms indispensable summation support from this regulatory assemblage earlier pursuing listings abroad.

Green Tea Group intends to utilise the funds from the IPO to grow its web of restaurants, acceptable up a centralised installation for nutrient processing, heighten its accusation exertion strategy on with associated infrastructure, and bolster its moving capital.

The institution applied successful December 2024 to leverage the late-year revival successful the IPO market.

Established successful 2008, Green Tea Group operates 489 restaurants successful 24 cities successful mainland China, and made its Hong Kong debut successful September 2024 astatine Hysan Place, Causeway Bay.

Despite accelerating its gait of caller store openings, Green Tea Group's gross saw a humble 7% summation successful 2024 to HK$3.8bn ($521m) - down from its emergence of much 50% successful 2023 erstwhile depletion surged post-pandemic.

The institution besides reported a much than 10% diminution successful same-store income successful 2024 - a crisp opposition to the 26% emergence successful 2023.

It does not expect the ongoing US-China commercialized struggle to impact it directly, owed to deficiency of ties to the US, but acknowledges imaginable indirect impacts connected its concern if the quality harms the system and changes user habits.

"Green Tea Group secures HKEX support for IPO" was primitively created and published by Verdict Food Service, a GlobalData owned brand.

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