Miniso Group Holding Ltd, a Chinese budget household and consumer goods retailer whose stock is already traded in New York, is considering a second listing in Hong Kong next year, people with knowledge of the matter said.
The firm is working with Bank of America Corp and UBS Group AG on the proposed share sale, the people said, asking not to be identified as the information is private.
Miniso could raise a few hundred million dollars in Hong Kong, they said.
Deliberations are at an early stage, and details such as fundraising size and timing could change, the people said. Representatives for Miniso and BofA declined to comment. UBS didn’t immediately respond to requests for comment.
The discount store operator is looking to join a slew of US-traded Chinese firms such as Baidu Inc, Xpeng Inc and Weibo Corp in conducting so-called homecoming listings.
As Sino-US tensions simmer and threaten to block Chinese companies’ access to the US capital markets, some of them are seeking a foothold back home as a hedge against risks.