South Beauty works for listing to fuel expansion

BEIJING - Chinese restaurant operator South Beauty Co Ltd is striving for a listing this year to fuel its expansion at home and acquisitions abroad, company Chairwoman Zhang Lan said on Monday.

"We've been selecting underwriters, but the exact time for the listing depends on market conditions," Zhang said, without specifying where it plans to get listed.

Though Zhang declined to reveal the company's revenue and profit last year, she said the two figures are "pretty good". In 2008, CDH Investments and China International Capital Corp Ltd invested about 300 million yuan ($45.5 million) for less than 10 percent of South Beauty's share capital, indicating that the institutions valued the company at more than 3 billion yuan two years ago.