Chinese time-honored brand name, China Quanjude (Group) Co Ltd, a well-known chain of roast duck restaurants, will sell public shares soon.
On October 29, it will begin preliminary price inquiry and promotions for its initial public offering.
The chain business will issue no more than 36 million A shares and its total stock issue will not exceed 141.56 million shares after the A share listing.
Quanjude posted a net profit of 56.66 million yuan in 2006 and earning per share is 0.54 yuan. Net profit for the first three months of 2007 is 25.62 million yuan; earning per share rests at 0.24 yuan. The value of the Quanjude brand has amounted to 10.6 billion yuan.
After the mainland listing, Quanjude is estimated to top domestic catering chain enterprises in terms of market value.
Quanjude is expected to lead a listing spree by domestic catering enterprises.
Other domestic catering chain enterprises like Inner Mongolia Little Sheep and Tanyoto are all preparing for stock listing. Beijing-based South Beauty and Chongqing Little Swan catering enterprises have also introduced venture capital and have plans for overseas listing.
For more details, please read the full story in Chinese (http://www.cs.com.cn/ssgs/05/200710/t20071026_1234274.htm).
(China.org.cn October 26, 2007)
