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Chinese Fresh Food Chain Qiandama Is Said to Weigh Hong Kong IPO

March 31, 2021, 8:34 AM

Chinese fresh food chain operator Qiandama is considering an initial public offering in Hong Kong as soon as this year, according to people familiar with the matter.

The Guangzhou-based company had discussed a share sale with potential advisers, said the people, who asked not to be identified as the information is private. An offering could raise about $400 million to $500 million, one of the people said.

Qiandama is also planning to raise about 2 billion yuan ($305 million) in a pre-IPO funding round that could value the firm at as much as 25 billion yuan, the people said.

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