This article only represents the author's own views.
A new Hong Kong IPO application by hotpot chain Banu International Holding Ltd. is offering a complex mix of the latest restaurant trends in China, suggesting consumers are becoming more frugal but also continue to enjoy dining out.
Banu is one of several restaurant operators lining up to list in Hong Kong, in what could be one of the larger such IPOs from that group, raising up to $100 million. The company positions itself at the premium end of the hotpot market, and, indeed, its average spend per customer is about 40% higher than leading chain Haidilao (6862.HK), which caters to more mainstream diners.