The Tencent-backed retail chain floated well above its range in New York and its shares have risen some 40% post-IPO.

Internet group Tencent scored an exit yesterday when China-headquartered lifestyle product retailer Miniso floated on the New York Stock Exchange in a $608m initial public offering.

The IPO consists of 30.4 million American Depositary Shares (ADSs), each representing four common shares, priced at $20.00 each, above the $16.50 to $18.50 range the company had set for the offering. Its shares closed at $20.88 yesterday and are trading at $23.97 each at time of publication.

Miniso sells a range of…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.
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