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Muji-esque retailer Miniso valued at $6bn in New York IPO

Tencent-backed Chinese lifestyle chain brings in $600m for expansion

Miniso marked its New York IPO on Thursday with an event at its Guangzhou headquarters.

GUANGZHOU -- Miniso Group Holding, a Chinese operator of variety stores with a Japanese aesthetic, debuted on the New York Stock Exchange in an share sale that valued it at more than $6 billion.

The retailer sold 30.04 million American depositary shares Thursday at $20 each in its initial public offering, raising $608 million that will go toward expanding the chain as well as other investments such as improvements to its distribution network.

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