Chinese hot-and-sour noodle chain Maliuji has selected banks for a potential initial public offering in Hong Kong that could take place as soon as next year, according to people familiar with the matter.
The company is working with CMB International and Huatai Securities Co. on preparations for a listing, the people said, asking not to be identified as the information is private. Details such as the IPO size and the company’s valuation have not yet been determined as the noodle chain continues to expand rapidly, the people said.
Deliberations are ongoing and Maliuji hasn’t made any final decision regarding its IPO plans, the people said. Representatives for CMBI, Huatai and Maliuji didn’t respond to requests for comment.
Founded in 2020, Maliuji has emerged as one of China’s fastest-growing restaurant chains thanks to the relentless promotion by its founders on social media such as Douyin, the Chinese version of TikTok. The firm, which is famous for its hot and sour noodles, doesn’t have an official website.
Maliuji had 21 outlets in major cities including Beijing and Shanghai and planned to open another 12 stores this year, its Chief Executive Officer An Yong said in an interview with China News in June. The company also sells its products including noodles and frozen buns on online platforms such as Alibaba Group Holding Ltd.’s Taobao.
--With assistance from Daniela Wei.
