BRIEF: Busy Ming launches $248 million Hong Kong IPO
Snack retailer Busy Ming Group Co. Ltd. (1768.HK) launched its Hong Kong IPO on Tuesday, aiming to sell 14.1 million shares for HK$236.60 apiece to raise HK$3.34 billion ($428 million). Shares will be sold in lots of 100, requiring payments of HK$23,899 per lot. Subscriptions will close on Jan. 23, with trading set to commence on Jan. 28.
Busy Ming operates the Busy for You and Super Ming household snack chains. It was China’s fourth-largest chain retailer in 2024 with gross merchandise value (GMV) of 55.5 billion yuan ($8 billion). Its GMV surged 74.5% year-on-year in the first nine months of 2025 to 66.1 billion yuan, while its store network expanded to 19,517 outlets.
The company reported a profit of 829 million yuan in 2024, up nearly fourfold year-on-year. Its profit more than tripled year-on-year in the first nine months of last year to 1.56 billion yuan.
By Lau Chi Hang
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