staff reporter
Chinese beauty salon chain Beauty Farm Medical and Health Industry has filed for an IPO in Hong Kong.
Bloomberg reported in December that the Shanghai-based company could raise up to US$500 million (HK$3.9 billion) for the proposed offering.
Beauty Farm, founded in 1993, said it would be the largest provider of daily facial and body care services by revenue in 2021, citing data from Frost & Sullivan.
It has three sub-brands namely Palaispa, Neology and CellCare.
The company operates about 177 stores across China and also has 160 stores operated by franchisees.
Beauty Farm’s investors include Chinese private equity firm Citic Private Equity Funds Management, which owns 35 percent of the company.
Meanwhile, Zhuhai Wanda Commercial Management, Dalian Wanda’s commercial real estate services arm, has applied for another IPO after its initial application expired earlier this month.
The company managed a total of 417 shopping centers and had 161 projects in the pipeline last year, including 139 from independent third parties.
In other news, Chinese biotech Zai Lab (9688) has approved a motion to seek a voluntary switch to a dual primary listing on the stock exchange’s main board. After the conversion, the company will become a listed company on the Nasdaq and Hong Kong Stock Exchanges.
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