Miniso Group Holding, a Chinese discount retailer selling branded lifestyle and home goods, filed on Wednesday with the SEC to raise up to $100 million in an initial public offering. However, this is likely a placeholder for a deal we estimate could raise up to $1 billion.
The company designs its products with heavy Japanese influences, and has more than 3,500 stores across 80 countries including China, the US, Brazil, the United Arab Emirates, and Russia.
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 the joint bookrunners on the deal. No pricing terms were disclosed.
