Global law firm Clifford Chance has successfully advised Xiaocaiyuan International Holding Limited, a leading Chinese chain restaurant company, on its initial public offering (IPO) and listing on the Main Board of the Hong Kong Stock Exchange. The IPO raised approximately US$ 110 million.
Xiaocaiyuan, a renowned self-operated chain in China mass Chinese cuisine market, ranked first in terms of revenue in 2023, outperforming all other brands in the segment. The company offers affordable, homemade-style dishes with excellent customer service, targeting consumers with average spending between RMB50 and RMB100.
The deal was co-led by Tim Wang, Chair of Clifford Chance China practice, alongside partners Tianning Xiang and Jean Thio. The team also included counsel Claire Cao, Qingyu Wu, senior associates Yuanyuan Cai and Ran Bi, associates Cathy Qian and Xiao Tang, trainee solicitor Jin Qin, and legal specialist Janssen Yang.
Tianning Xiang remarked, “We are thrilled to have supported Xiaocaiyuan in its successful listing. This achievement will enable the company to expand its restaurant network, enhance its supply chain capabilities, and boost its IT infrastructure. The deal showcases our firm expertise in capital markets and strengthens our commitment to advising food and beverage companies in China as they expand.”
Clifford Chance experience extends to advising major food and beverage companies in China on IPO listings, including renowned names such as Haidilao, China Resources Beverage, ChaPanda, and Guoquan Food Shanghai Co Ltd.
