(This Oct 7 story corrects valuation figure to $5.71 billion, not $10.18 billion, in paragraph 3)
(Reuters) - Retailer Miniso Group Holding Ltd, which is backed by Tencent Holdings Ltd 0700.HK, is looking to raise up to $562.4 million in its initial public offering in the U.S., a regulatory filing showed on Wednesday.
The China-based company said it would sell 30.4 million American Depositary Shares priced between $16.50 and $18.50 per ADS. Each ADS would represent four of Class A ordinary shares. (bit.ly/3d4LGS7)
At the top end of the range, Miniso would be valued at $5.71 billion.
A number of Chinese companies, which have debuted in U.S. stock markets this year, have also attracted strong investor interest. Earlier this year, SoftBank-backed KE Holdings BEKE.N, which owns real estate brokerage brand Lianjia and housing transactions platform Beike, sold over $2 billion worth of shares after its IPO was priced above range.
Companies have raised more than $100 billion in U.S. IPOs so far in 2020, comfortably outpacing a $62.5 billion haul for all of 2019, and on track to be the biggest year since 2000, according to data from Dealogic.
Entities affiliated with Tencent would own 4.8% of Miniso’s stock after the offering, the filing showed.
Goldman Sachs and BofA Securities are the underwriters for the offering.
Reporting by Niket Nishant in Bengaluru; Editing by Shailesh Kuber
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