Miniso Group Holding Limited’s share price rose 4.4% on its first day of trading on October 15, 2020 and closed at $20.88, giving the company a market cap of approximately $6.34 billion.
Design-led lifestyle products retailer raised $608 million by offering 30.4 million ADSs at $20, above the proposed range of $16.50 to $18.50.
The company served consumers through their network of over 4,200 MINISO stores, of which it directly operated 129, including over 2,500 MINISO stores in China and over 1,680 MINISO stores across over 80 countries and regions in the rest of the world.
The Guangzhou, China-based company was founded in 2013 and booked $1.3 billion in sales for the 12 months ended June 30, 2020. It plans to list on the NYSE under the symbol “MNSO.” Goldman Sachs and BofA Securities are underwriters of the IPO.
The company engages Skadden, Arps, Slate, Meagher & Flom LLP as US Securities Counsel, and KPMG Huazhen LLP as Independent Auditor.
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