Clifford Chance advises China's leading snack retailer Busy Ming on its HK$3.67 billion Hong Kong IPO and listing

Global law firm Clifford Chance has advised China's largest snack and beverage retailer Busy Ming on its initial public offering and listing on the Main Board of the Hong Kong Stock Exchange, raising HK$3.67 billion (approximately US$470 million).

Partners Tianning Xiang and Jean Thio co-led the transaction with support from counsel Claire Cao, senior associates Yuanyuan Cai and Yuhang Li, associates Xiao Tang, Rita Cao and Janssen Yang, trainee solicitors Zhongxiao Cong, Qianqian Bai and Yancy Hua.

Tianning said, "Working alongside Busy Ming, we've seen how they effectively deliver quality and value across such a vast nationwide network. Their successful debut today not only highlights the depth and dynamism of China's consumer market, but also marks the start of a new chapter for the company – enabling it to scale with more confidence and enhance its customer offering capabilities."

Busy Ming is a leading and fast‑growing food and beverage retailer in China, operating a nationwide network of over 19,000 stores across 28 provinces as of 30 September 2025 under its dual brands, Busy for You and Super Ming.

Pursuing its vision in bringing joy into daily life and creating a snack brand for the people, Busy Ming offers a broad range of affordable snacks and related products supported by an integrated supply chain. According to Frost & Sullivan, it is the largest snack and beverage chain retailer in China in terms of retail sales value in 2024, reflecting its scale, rapid expansion and strong consumer reach.

Clifford Chance has played a leading role in many of the market-defining transactions in the region's consumer and retail sector, including the Hong Kong IPOs of Foshan Haitian, Anjoy Foods, IFBH and Bloks.