China's duty-free giant plans Hong Kong IPO, potentially biggest listing in Hong Kong this year

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China Tourism Group Duty Free, which operates the country’s largest store franchise, plans to issue shares in what could potentially be the Hong Kong market’s biggest initial public offering (IPO) this year, as it seeks funding to expand its business.

The government-backed company applied for a listing to Hong Kong Exchanges & Clearing and posted its documents on the bourse operator’s website on Friday, it said on Tuesday.

“The Hong Kong IPO will further strengthen its global competitiveness, firm up its domestic market share and improve supply chain and operating efficiency . . .

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