Miniso Group Holding, a Chinese discount retailer selling branded lifestyle and home goods, announced terms for its IPO on Wednesday.
The Guangzhou, China-based company plans to raise $532 million by offering 30.4 million ADSs at a price range of $16.50 to $18.50. At the midpoint of the proposed range, Miniso Group Holding would command a fully diluted market value of $5.3 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.
Miniso Group Holding 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.
