China’s two largest hot-pot restaurant chain operators are planning to go public as soon as next year to raise about HK$3 billion between them, extending their competition from the dining tables to equity markets.
Little Sheep, arguably the country’s most profitable hot-pot restaurant chain, aims to raise up to HK$2 billion in an initial public offering in Hong Kong while smaller rival Little Lamb is poised to raise up to RMB 1 billion in Shanghai, senior officials told the South China Morning Post.
Founded in Baotou and using a franchising business model, both Little Sheep and Little Lamb seek to boost their reserves as they fight for a bigger slice of the food and catering market on their home turf and overseas, such as in North America and Japan.
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