South Beauty Group to list in Hong Kong

Operator of tony restaurant chain to use funds for expansion.

South Beauty Group, operator of South Beauty Restaurants, expects to list in Hong Kong in 2013 to secure US$200 million to open more restaurants.

The South Beauty Group or the South Beauty Catering Management Group was founded by Ms. Zhang Lan in 2000. It consists of three brands: South Beauty Restaurants, Lan Club and SUBU.

The popular and upscale restaurant chain operates some 90 branches in 15 key cities throughout China, including Beijing, Shanghai and Chengdu. Some 20 branches were opened in 2012 to add to about 70 restaurants in 2011.

Chairman of the Board Zhang Lan hoped their plans to open new stores in 2013 will not be slowed down. The group is also expanding overseas.

An Yong, president of the South Beauty Group or Qiao Jiang Nan, said there are no hurdles in approval procedures for their public offering in Hong Kong. The company is waiting for the best time to list.