Miniso announced on Friday that it will spin off its brand Top Toy and list it in Hong Kong, capitalising on the growing investor interest in Chinese toymakers and highlighting the city’s renewed position as a global fundraising hub.
Top Toy’s initial public offering (IPO) will be coordinated by UBS, JP Morgan, and CLSA, as stated by Miniso, which is based in Guangzhou. The business, which will remain a subsidiary of Miniso after the spin-off, focuses on pop culture-inspired collectible toys. Miniso had indicated in June that it was considering a spin-off of Top Toy, showing increased confidence in the brand’s potential to stand alone.
Launched in late 2020 with just nine stores across five Chinese cities, Top Toy has expanded to 293 locations as of June, including international markets since the last quarter of 2024.
The listing of Top Toy follows the success of Chinese toymaker Pop Mart International Group, whose Labubu dolls, characterised by their "ugly-cute" design, have gained global popularity.
The spin-off and planned listing underscore Hong Kong’s role as the leading offshore fundraising centre for Chinese companies, particularly as U.S. lawmakers threaten to delist Chinese firms from American stock exchanges.
Hong Kong, driven by an influx of Chinese companies, has emerged as the top global exchange for IPOs and secondary listings so far this year, surpassing the New York Stock Exchange, according to data from LSEG.
Chinese autonomous driving company Momenta is also reportedly considering moving its IPO from New York to Hong Kong, according to Reuters.
Miniso stated that the spin-off and listing would enhance Top Toy’s operational and financial transparency, and as an independent entity, the business would be more attractive to investors.
The U.S. and UK are reducing personnel at Qatar’s Al-Udeid air base as President Donald Trump weighs possible action against Iran over its violent c...
China recorded the world’s largest-ever trade surplus in 2025, reaching $1.2 trillion as exporters shifted focus away from the U.S. amid ongoing tra...
Iran’s temporary shutdown of its airspace prompted flight diversions and fresh safety warnings on Wednesday as regional tensions disrupted airline o...
The United Nations has called on Uganda to lift a nationwide internet blackout ahead of Thursday’s general election, describing the restrictions as ...
Whole milk is heading back to school cafeterias across the U.S. after President Donald Trump signed a bill overturning Obama-era limits on higher-fat ...
U.S. President Donald Trump said on Wednesday that he has been informed the killing of anti-government protesters in Iran has stopped and that planned executions would not go ahead, though details remain unclear.
Danish Foreign Minister Lars Løkke Rasmussen said on Wednesday that Denmark was unable to change the U.S. position on Greenland after talks with American officials in Washington.
As tensions between Iran and the U.S. persist, authorities in Tehran are facing another problem—this time at home.
The United Kingdom and the United States are withdrawing military personnel from bases in the Middle East as tensions with Iran rise, following Tehran’s warning to regional allies that it would target U.S. bases if Washington takes military action.
The Trump administration will suspend all visa processing for visitors from 75 countries beginning 21 January 2026, according to a State Department memo reported by media.
Saudi Arabia has informed Iran that it will not allow its territory or airspace to be used for any military action against Tehran, according to two sources close to the kingdom’s government cited by AFP.
Sweden is sending a group of military officers to Greenland at Denmark’s request, Prime Minister Ulf Kristersson said on Wednesday, as Nordic countries and NATO allies step up coordination around the Arctic territory.
Israel and Arab States have urged the U.S. to delay any potential military action against Iran, warning that such a move could undermine ongoing protests inside the country, according to NBC News.
Boeing booked more aircraft orders than Airbus in 2025 for the first time since 2018, official figures showed, even as the European manufacturer delivered more planes during the year.
China recorded the world’s largest-ever trade surplus in 2025, reaching $1.2 trillion as exporters shifted focus away from the U.S. amid ongoing trade tensions.
A coalition of women’s rights organisations, technology watchdogs and progressive campaigners is urging Apple and Google, owned by Alphabet, to remove the social media platform X and its associated chatbot, Grok, from their app stores.
Boeing booked more aircraft orders than Airbus in 2025 for the first time since 2018, official figures showed, even as the European manufacturer delivered more planes during the year.
U.S. oil major Chevron and private equity firm Quantum Capital Group are reportedly preparing a joint bid to acquire Lukoil’s international assets, as the sanctioned Russian energy company seeks to divest its overseas operations.
The U.S. dollar's share of global reserves fell to nearly 40% at the end of 2025, according to the International Monetary Fund (IMF), which says it's 10% lower than at the start of 2024. However, gold has risen and overtaken the dollar to be above 50% in global reserves according to the IMF data.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment