Two Noodle houses aim to raise US$300m

Two mainland noodle chains are reportedly seeking to go public in Hong Kong to raise as much as US$300 million (HK$2.34 billion), joining the trend of food and beverage operators coming to list in the city.

Hefu Noodle plans to debut as early as this year and raise between US$100 million and US$200 million. It has been in talks with a Chinese brokerage Huatai Financial Holdings (Hong Kong) and more brokers are expected to join, according to IFR.

Another chain Meet Noodles might join the queue to raise about US$100 million.

Previously, Hefu was reported to have leased a shop on Russell Street in Causeway Bay at a monthly rent of HK$300,000, preparing to tap into the Hong Kong market. However, the shop has been boarded up for renovation.

Notably, the government-led InvestHK supported Hefu's expansion.

Earlier, two of the largest fruit tea and milk tea chains in China applied for an initial public offerings in the city.

Mixue Bingcheng and Gu Ming are reportedly looking to raise US$1 billion and US$300 million respectively.

The rush comes after authorities in Beijing suspended the listing applications of food and beverage firms last year in a bid to guide the capital to sectors related to China's real economy.