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Domino's Pizza Franchise Operator DPC Dash Edges Lower After Hong Kong Debut

Dow Jones2023-03-28

By Bingyan Wang

DPC Dash Ltd., the Domino's Pizza franchise operator in China, edged lower on its trading debut on Tuesday, bucking gains in the broader market.

Shares of the restaurant operator fell 0.2% to HK$45.90 after its Hong Kong debut.

DPC Dash had postponed an initial public offering in December due to volatile market conditions as business activities were hit due to Covid-19 curbs in China.

DPC Dash tested the market again earlier this month and raised 588.75 million Hong Kong dollars (US$75 million) in net proceeds from the IPO.

A total of 12.80 million shares were on offer, and the IPO was priced at HK$46.0 a share.

The Shanghai-headquartered company began managing Domino's Pizza outlets in China in 2010, and now operates more than 450 restaurants in Beijing, Shanghai and eight other cities across the country.

DPC Dash plans to open another 180 and 240 new stores in 2023 and 2024, respectively, driven by strong customer demand.

The company reported net loss of CNY222.63 million (US$32.3 million) for 2022, narrowing from net loss of CNY471.06 million in 2021.

Write to Bingyan Wang at bingyan.wang@wsj.com

(END) Dow Jones Newswires

March 27, 2023 22:36 ET (02:36 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

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ADL1M
·2023-04-04
How come me will understand about this thing and me even learn or get teach by anyone person with me
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