Miniso to spin off Top Toy brand and seek HKEX listing

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':"";if(a){var r=n.promos.showYahooLogo?"":"yns-no-logo";a=a.replace("{notifOnboardBtnLabel}",n.promos.notifOnboardBtnLabel).replace("{notifOnboardMsg}",n.promos.notifOnboardMsg).replace("{subscriptionTopic}",n.promos.subscriptionTopic).replace("{noLogoClass}",r).replace("{promoLogo}",n.promos.promoLogo)}var s=t.newCount>n.panel.maxCount?t.newCount:"",c=n.panel.notificationCenterPath,l=c?"":P,u=n.panel.headerMsg?"":" "+P,d=c?R:"",p=void 0;t.count?p=t.markup:p='{emptyPanelMsg}'.replace("{emptyPanelMsg}",n.panel.emptyPanelMsg);return e=e.replace("{notifMarkup}",p).replace("{promoMarkup}",a).replace("{hideClass}",l).replace("{notifCenterLink}",c).replace("{paddingClass}",d).replace("{headerMsg}",n.panel.headerMsg).replace("{hideHeaderClass}",u).replace(/{notificationCenterNavMsg}/g,n.panel.notificationCenterNavMsg).replace(/{newCount}/g,s)}},{key:"render",value:function(e,t){var n=this;if(n._panelNode){var o=void 0,i=n._panelNode,a=void 0,r=void 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Gt(e,o.submitSearchBtn,m(m({},Kt),{label:null!==(t=n.i18n.root.SEARCH_TOOLTIP_WEB)&&void 0!==t?t:"Search the web",containerClass:"".concat(jt.tooltip," ").concat(jt.tooltip__web),tooltipParentElm:o.clearSearchBtn.parentElement}))}));var Jt="_yb_tdk4ba",Vt="_yb_hkd17a",$t="_yb_rtzclf",Xt="_yb_tdbhj6",Zt="_yb_de52ef",Qt="_yb_9hwrey",en="_yb_slc8ta",tn="_yb_bf0svp",nn="_yb_hjic9z";be("ybar-mod-adaptivenav",(function(e){var t=document.querySelector("#ybar-l1-more-menu ul"),n={moreDropDown:document.querySelector(".".concat(Jt)),moreBtn:document.querySelector(".".concat(Vt)),wrap:document.querySelector(".".concat(Xt)),moreSectionTitle:document.querySelectorAll(".".concat(Zt)),editionsCtaBtn:document.querySelector(".".concat(Qt)),editionsMenu:document.querySelector(".".concat(en)),closeBtn:document.querySelector(".".concat(tn)),moreMenuDropDownHeight:t?"".concat(t.offsetHeight+48,"px"):"0"};new 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Miniso group but will operate as an independent brand.The company produces collectible toys based on popular culture. In June 2025, the company announced it was considering a spin-off.Top Toy, which launched in late 2020 with nine stores in five cities in China, has expanded to 293 locations by June 2023.The decision to list Top Toy comes after the expansion of Pop Mart International, another Chinese toymaker known for its Labubu dolls.Top Toy's operational and financial clarity would be enhanced by the spin-off and subsequent public offering.Forming an independent company would make Top Toy more attractive to potential investors.The IPO for Top Toy will be coordinated by UBS, JP Morgan and CLSA.Miniso had already completed a secondary stock offering in Hong Kong in July 2022, raising $72m amid concerns of potential delisting.A flagship store was opened in Hong Kong in January 2024.In early 2024, Miniso raised $550m via a debt instrument to support its international expansion and share buy-back plans.This was done through equity-linked securities set to mature in January 2032, according to a filing with HKEX.In October 2024, Miniso’ top executives told the South China Morning Post that Miniso's long-term vision includes establishing a global chain of 40,000 stores, focusing on "interest-driven" consumption with products linked to popular entertainment franchises.The company has formed 150 partnerships with brands such as Harry Potter and Barbie.Miniso identifies growth opportunities in the US and Europe due to higher consumer spending on franchise-related items compared to China."Miniso to spin off Top Toy brand and seek HKEX listing" was originally created and published by Retail Insight Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. 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