Pagoda, a Chinese fresh-fruit chain, plans to launch their IPO in the Chinese stock exchange market. The company has received pre-listing tutoring under Minsheng Securities and will receive pre-listing tutoring on November 10 under the Shenzhen Securities Regulatory Bureau.
"It is expected that Pagoda will be listed in 3-5 years." Feng Weidong, Chief Investment Officer of Tiantu Capital, said. According to the plan of Tiantu Capital, Pagoda should have become listed by this year, but the goal will not be met judging from the current progress.
It is worth mentioning that with the blessing of capital, the number of Pagoda stores has grown rapidly. There were 1,000 stores in May 2015, and as of December 2019, the number of stores reached over 4,000. With the capital injection, Pagoda also conducted a number of mergers and acquisitions to expand the market.
According to Zhu Danpeng, an analyst in the food industry, “With the gradual increase in consumers’ health needs, the product category of fruits has developed rapidly, but at the same time, the requirements for companies are also getting higher and higher. During this period of continuous expansion, the need for capital also increases, which is also an important reason for the listing."
Source: Finance Association