Jinjiang Group Plans IPO To Fund Budget Hotel Expansion

Yu Meng, executive vice president of Jinjiang Inn, a subsidiary of Jinjiang Group has told the local media that the company is planning to get listed in Hong Kong in the second half of this year.

Jinjiang Group hopes to raise HK$2 billion from the IPO, of which HK$1.2 billion will be spent on developing its budget hotel brand Jinjiang Inn.

At present, there are 139 Jinjiang Inns across China, and the group plans to sign 200 more such hotels and open 120 of them in China within this year.