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joined discussion · Jan 28 08:02

IPO Pricing | 'Food and Beverage Retailer' Mingming Busy Goes Public Today, Over 1,899 Times Subscribed, Priced at HKD 236.6 per Share, Raking in Over HKD 18,000 Profit per Lot in the Grey Market

Futu News reported on January 28,$BUSYMING (01768.HK)$Announced the allotment results, with shares priced at HKD 236.6 each, issuing a total of 15.5112 million shares, 100 shares per lot, officially listed today.
In the previous trading session, Mingming Was Very Busy closed up 76.16% in the gray market at HKD 416.80. With each lot consisting of 100 shares, excluding handling fees, a single lot generated a profit of HKD 18,020.
During the public offering phase, Mingming Was Very Busy received subscriptions 1,899.49 times over. The final number of shares allocated for public offering was 1.4102 million shares, accounting for approximately 9.1% of the total offering. A total of about 229,245 valid applications were received, with around 14,102 applications processed. The approximate percentage of shares allocated to one-lot applicants compared to the total shares applied for was 3%.
Moreover, during the international placement phase, Mingming Was Very Busy received subscriptions 44.44 times over. The final number of shares allocated for international placement was 14.101 million shares, equivalent to 90.9% of the total offering. Futu Information has compiled the relevant data in the table below:
Futu News reported on January 28,$BUSYMING (01768.HK)$Announced the allotment results, with shares priced at HKD 236.6 each, issuing a total of 15.5112 million shares, 100 shares per lot, officially listed today. In the previous trading session, Mingming Busy's grey market closed up 76.16%, at HKD 416.80 per share, 100 shares per lot. Excluding handling fees, the profit per lot was HKD 18,020. During the public offering phase, Mingming Busy received 1,899.49 times subscription. The final number of shares allocated for public offering amounted to 1.4102 million shares, accounting for approximately 9.1% of the total offering shares. A total of about 229,245 valid applications were received, with approximately 14,102 accepted applications. The percentage of shares allocated for one-lot subscriptions relative to the total applied shares was approximately 3%. Furthermore, during the international placement phase, Mingming Busy garnered 44.44 times subscription, with the final number of international placement shares totaling 14.101 million shares, representing 90.9% of the total offering shares. Futu News has compiled the relevant data as shown in the table below: Company Overview The company is a mature and steadily growing food and beverage retailer based in China. Most of its stores in the network are located in high-traffic, easily accessible street locations, aiming to provide a joyful and comfortable shopping experience. The company offers a wide variety of products that are high-quality, cost-effective, and frequently updated. The company's establishment originated from the founder adopting a bulk sales model...
Futu News reported on January 28,$BUSYMING (01768.HK)$Announced the allotment results, with shares priced at HKD 236.6 each, issuing a total of 15.5112 million shares, 100 shares per lot, officially listed today. In the previous trading session, Mingming Busy's grey market closed up 76.16%, at HKD 416.80 per share, 100 shares per lot. Excluding handling fees, the profit per lot was HKD 18,020. During the public offering phase, Mingming Busy received 1,899.49 times subscription. The final number of shares allocated for public offering amounted to 1.4102 million shares, accounting for approximately 9.1% of the total offering shares. A total of about 229,245 valid applications were received, with approximately 14,102 accepted applications. The percentage of shares allocated for one-lot subscriptions relative to the total applied shares was approximately 3%. Furthermore, during the international placement phase, Mingming Busy garnered 44.44 times subscription, with the final number of international placement shares totaling 14.101 million shares, representing 90.9% of the total offering shares. Futu News has compiled the relevant data as shown in the table below: Company Overview The company is a mature and steadily growing food and beverage retailer based in China. Most of its stores in the network are located in high-traffic, easily accessible street locations, aiming to provide a joyful and comfortable shopping experience. The company offers a wide variety of products that are high-quality, cost-effective, and frequently updated. The company's establishment originated from the founder adopting a bulk sales model...
Company Overview
The company is a mature and steadily developing food and beverage retailer in China. Most of its stores within the network are located on busy streets, easily visible and accessible, aiming to provide a joyful and comfortable shopping experience. The company offers a wide variety of high-quality, cost-effective products with frequent updates. The company’s establishment originated from the founder's adoption of a bulk retail model, committed to meeting the general public's demand for quality yet affordable snacks. Through supply chain restructuring and continuous improvement in product mix, the company enriched its product offerings and redefined the retail pricing system.
The unique expertise accumulated by the company in the snack sector also benefits other categories, allowing it to expand into a broader range of products. As of September 30, 2025, the company operates a network of 19,517 stores covering 28 provinces across China and all tiers of cities, with about 59% of its stores located in counties and towns.
Financial Overview
From RMB 4,285.7 million in 2022 to RMB 10,295.3 million in 2023, and further to RMB 39,343.5 million in 2024, representing a compound annual growth rate of 203.0% from 2022 to 2024. The company’s revenue for the nine months ended September 30, 2024, increased further from RMB 26,465.5 million to RMB 46,371.5 million for the nine months ended September 30, 2025.
In 2022, 2023, 2024, and for the nine months ended September 30, 2024, and 2025, the company’s gross profit was RMB 319.4 million, RMB 772.3 million, RMB 2,999.0 million, RMB 1,899.8 million, and RMB 4,510.0 million, respectively. In the same periods, the company’s gross margin was 7.5%, 7.5%, 7.6%, 7.2%, and 9.7%, respectively.
Futu News reported on January 28,$BUSYMING (01768.HK)$Announced the allotment results, with shares priced at HKD 236.6 each, issuing a total of 15.5112 million shares, 100 shares per lot, officially listed today. In the previous trading session, Mingming Busy's grey market closed up 76.16%, at HKD 416.80 per share, 100 shares per lot. Excluding handling fees, the profit per lot was HKD 18,020. During the public offering phase, Mingming Busy received 1,899.49 times subscription. The final number of shares allocated for public offering amounted to 1.4102 million shares, accounting for approximately 9.1% of the total offering shares. A total of about 229,245 valid applications were received, with approximately 14,102 accepted applications. The percentage of shares allocated for one-lot subscriptions relative to the total applied shares was approximately 3%. Furthermore, during the international placement phase, Mingming Busy garnered 44.44 times subscription, with the final number of international placement shares totaling 14.101 million shares, representing 90.9% of the total offering shares. Futu News has compiled the relevant data as shown in the table below: Company Overview The company is a mature and steadily growing food and beverage retailer based in China. Most of its stores in the network are located in high-traffic, easily accessible street locations, aiming to provide a joyful and comfortable shopping experience. The company offers a wide variety of products that are high-quality, cost-effective, and frequently updated. The company's establishment originated from the founder adopting a bulk sales model...
Use of Proceeds
Regarding the use of proceeds, Mingming Was Very Busy expects net proceeds from the global offering to be approximately HKD 3.528 billion (based on an offer price of HKD 236.6). According to the prospectus, Mingming Was Very Busy plans to allocate the proceeds raised from the global offering for the following purposes:
Approximately 25.0% will be used to enhance the company’s supply chain capabilities and improve its product development capacity. Approximately 20.0% will be allocated to upgrading the store network and continuously empowering franchisees. Approximately 20.0% will go towards brand building and promotional activities. Approximately 20.0% will be used to improve the company’s technological capabilities and digitalization level. Around 5.0% will be earmarked for selectively pursuing strategic investments and acquisition opportunities complementary to the company’s business. About 10.0% will be used for working capital and other general corporate purposes.
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Futu News reported on January 28,$BUSYMING (01768.HK)$Announced the allotment results, with shares priced at HKD 236.6 each, issuing a total of 15.5112 million shares, 100 shares per lot, officially listed today. In the previous trading session, Mingming Busy's grey market closed up 76.16%, at HKD 416.80 per share, 100 shares per lot. Excluding handling fees, the profit per lot was HKD 18,020. During the public offering phase, Mingming Busy received 1,899.49 times subscription. The final number of shares allocated for public offering amounted to 1.4102 million shares, accounting for approximately 9.1% of the total offering shares. A total of about 229,245 valid applications were received, with approximately 14,102 accepted applications. The percentage of shares allocated for one-lot subscriptions relative to the total applied shares was approximately 3%. Furthermore, during the international placement phase, Mingming Busy garnered 44.44 times subscription, with the final number of international placement shares totaling 14.101 million shares, representing 90.9% of the total offering shares. Futu News has compiled the relevant data as shown in the table below: Company Overview The company is a mature and steadily growing food and beverage retailer based in China. Most of its stores in the network are located in high-traffic, easily accessible street locations, aiming to provide a joyful and comfortable shopping experience. The company offers a wide variety of products that are high-quality, cost-effective, and frequently updated. The company's establishment originated from the founder adopting a bulk sales model...
Editor/Deng
Risk Disclaimer: The above content only represents the author's view. It does not represent any position or investment advice of Futu. Futu makes no representation or warranty.Read more
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