Partners Group, one of the largest firms in the global private markets industry, acting on behalf of its clients, announces that shares in its portfolio company Green Tea Group Limited, a casual dining brand in China, began trading on the Hong Kong Stock Exchange on 16 May 2025 following the pricing of its initial public offering.
Green Tea’s stock is listed under the ticker 6831.
The IPO of 168,364,000 common shares priced at HKD 7.19 per share. Immediately following the IPO and before any exercise of an over-allotment option, Partners Group owns approximately 15.76% of Green Tea.
Founded in 2008 with the opening of its first restaurant in Hangzhou, China, Green Tea serves fusion cuisine in a traditional dining environment from over 490 outlets across 140 cities.
Green Tea has more than 12,500 employees across its operations and serves around 68 million customers annually.
Partners Group acquired a significant minority stake in Green Tea in 2017 and has since overseen an eight-fold increase in the Company’s restaurant count.
Focusing on the value-for-money dining segment, Green Tea strategically designs its restaurants and menus to achieve an average spend per customer of around RMB 56.
This positioning enables Green Tea to capitalize on expansion opportunities in cities across China, which are being driven by thematic tailwinds such as rising disposable incomes.
In addition to expanding the restaurant count, Partners Group has also supported the execution of several other value creation initiatives, including enhancing Green Tea’s marketing strategy, optimizing its customer offering, and entering new markets, including Hong Kong.
Green Tea plans to use the IPO proceeds to further grow its restaurant network, establish a centralized food processing facility, and upgrade its information technology systems.
“This IPO represents a significant milestone in Green Tea’s history,” said Sheng Liu, Managing Director, Private Equity, at Partners Group. “Since our investment, we have helped institutionalize operations and support the rollout of new stores across China.”
Business News Asia