The company is known for its Lao Xiang Ji or Home Original Chicken brand. Credit: Yulia Davidovich/Shutterstock.

Chinese fast-food chain LXJ International has submitted an application for an initial public offering (IPO) in Hong Kong.

The move is aimed at raising capital to enable the company to further bolster its restaurant network, enhance its integrated supply chain, expand menu offerings and boostthe dining experience for customers.

Furthermore, the funds will be used to improve the company’s digitalisation and intelligent technologies capabilities.

The company, known for its Lao Xiang Ji or Home Original Chicken brand, is making an IPO bid after two unsuccessful attempts to list its shares in Shanghai in 2024.

While the size of the latest offering has not been disclosed, the company had previously sought to raise 1.2bn yuan ($164m) on the Shanghai Stock Exchange before withdrawing its submission in August 2024.

Founded in 1982 in Anhui province, LXJ has grown from a chicken farm to a restaurant chain under the leadership of company chairman Shu Xiaolong.

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The company opened its first restaurant in 2002.

As of 30 September 2024, the company had 1,404 restaurants, including 949 self-operated restaurants and 455 franchised restaurants across 53 cities in nine Chinese provinces.

The IPO application filing comes after the debut of the Chinese budget restaurant chain Xiaocaiyuan International in Hong Kong.

For the nine months ended 30 September 2024, the company generated revenues of 4.67bn yuan and 1.09bn yuan in gross profit.

Hong Kong’s stock exchange is said to have hosted 71 new listings last year, helping raise HK$87.5bn ($10.5bn)—an 89% increase compared to the previous year, South China Morning Post reported.

This achievement elevated the city to fourth place among the world’s busiest IPO venues.

Meanwhile, two bubble tea manufacturers, Mixue and Guming, are also looking to list their shares in the Hong Kong Stock Exchange.