Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Chinese Hotpot Chain Xiabuxiabu Said to Plan $300 Million IPO

Don't Miss Out —
Follow us on:

March 20 (Bloomberg) -- Xiabuxiabu Catering Management, a Chinese operator of hotpot restaurants, plans to seek about $300 million from an initial public offering in Hong Kong, said two people with knowledge of the matter.

Bank of America Corp. and Credit Suisse Group AG are working on the share sale, said the people, who asked not to be identified because the information is private. The Beijing-based company aims to start the offering in the second quarter, they said.

Xiabuxiabu, founded in 1998, has almost 400 outlets across northern and eastern China, according to the company’s website.

Private-equity firm Actis LLP bought a majority stake in Xiabuxiabu for $50 million in November 2008. General Atlantic LLC, which manages about $20 billion of funds, said in December 2012 it acquired the stake from Actis for an undisclosed sum.

Company officials at Xiabuxiabu’s Beijing office were not immediately available to comment on the IPO plan.

To contact the reporters on this story: Fox Hu in Hong Kong at fhu7@bloomberg.net; Zijing Wu in Hong Kong at zwu17@bloomberg.net

To contact the editors responsible for this story: Philip Lagerkranser at lagerkranser@bloomberg.net Ben Scent

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.