Milestone backs China restaurant chain IPO
Milestone Capital Partners has agreed to become a cornerstone investor in Chinese restaurant chain Xiao Nan Guo’s Hong Kong IPO. The company is looking to sell 341.25 million shares at HK$1.50 to raise HK$511.5 million ($65.9 million). A Milestone subsidiary will buy $22 million worth of shares, which would give it a 7.7% stake in the listed company.
Bank of America Merrill Lynch is the sole global coordinator for the offering while also sharing sponsorship responsibilities with Standard Chartered. Hong Kong market sentiment has been poor recently,...
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