Foot Massage Chain China Liangtse Said to Mull German IPO

China Liangtse Wellness, a massage chain with more than 300 branches in China and Europe, is planning an initial public offering in Frankfurt, according to a person with knowledge of the process.

Liangtse, founded in Shandong, China, in 1997, plans to expand its business in Europe and seek a German listing as a part of that strategy, said the person, who asked not to be identified as the plans are private. Liangtse has branches in Germany, the U.K. and Finland, according to its website. While no final decision has been made on timing, size and valuation, the IPO may happen as early as this year, the person said.