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Domino’s Pizza’s Chinese operator, hotpot chain Laowang, among mainland restaurant groups filing for Hong Kong IPOs as they bet on diners returning after Omicron
- Japanese cuisine chain Kamii is also among the catering and restaurant groups seeking investors’ capital
- They are betting diners will regain their appetite for eating out later this year once the outbreak of Covid-19 blighting the country has subsided
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Several mainland Chinese restaurant chains have filed for initial public offerings (IPOs) in Hong Kong, betting that diners will regain their appetite for eating out later this year once the current outbreak of Covid-19 blighting the country has subsided.
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Restaurant groups including Japanese cuisine specialist Kamii, hotpot chain Laowang and the China franchisee of US-based Domino’s Pizza have filed for listings in the past three months.
It usually takes at least six months for applications to proceed to the stage of a listing committee hearing, the passing of which would enable them to kick off their IPOs.
The filings come as symptomatic Covid-19 cases surged to a record high of 2,573 in Shanghai, according to data released on Thursday, bringing the total number of cases of the Omicron variant to 280,000. Outside Shanghai, Jilin province has been battling the latest outbreak of the pandemic since the beginning of March.
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But for DPC Dash, the exclusive franchisee of Domino’s Pizza in China, Hong Kong and Macau, with 485 stores, the pandemic has had a silver lining.
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