Shanghai Lingxian Food and Beverage Management Company said that its key brand Ajisen Ramen noodle restaurants is planning to raise US$200 million through an IPO on the Hong Kong Stock Exchange.
Cazenove Asia Limited will be handling the public offering. Ajisen Ramen estimates that the net revenue for the company this year will reach at least RMB160 million, a 45.5% increase over last year.
Japanese Ajisen Ramen and its biggest shareholder Sirius Investment have become shareholders of Ajisen Ramen, holding a 7% and 3% stake, respectively, before the IPO.
At present, Lingxian has 108 Ajisen Ramen restaurants in China, all of which are direct-run restaurants. Ajisen Ramen has decided to open franchised stores in certain areas in China this year.