The IPOX® Watch: MINISO Group Holding Limited
COMPANY DESCRIPTION
Founded in 2009, MINISO Group Holding Limited is a global branded variety retailer of lifestyle products headquartered in Guangzhou, China. MINISO offers affordable heavily Japanese aesthetic influenced products in home décor, small electronics, textile, accessories, beauty tools, toys, cosmetics, personal care, snacks, fragrance and perfumes, and stationery and gifts.
BUSINESS MODEL
MINISO Group generates revenue mainly through sales of lifestyle products to distributors, retail stores and online channels. The company also generates revenue from license fees, sales-based royalties, and sales-based management and consultation service fees.
IPO HISTORY
On 10/15/2020, MINISO Group Holding Limited began trading on the NYSE led by Goldman Sachs. The lifestyle products retailer offered 30.4 million shares at $ 20.00 per share, above its expected price range ($16.50 - $18.50). MINISO raised ca. $656 million with the 15% over-allotment option partially exercised. The shares opened at $24.40 and closed the first day at $20.88 (+4.40%).
MINISO (9896 HK) completed its Hong Kong Public Offering on 07/13/2022 and raised HK$567.18 million (ca. $72 million).
MINISO Group was included in the IPOX® International Index (ETF: FPXI US) on 03/20/2023 and has fell -2.02% since addition to the indexes.
