SHAREHOLDER CLASS MINISO GROUP HOLDING LIMITED (NYSE: MNSO).
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NEW YORK, Sept. 27, 2022 (GLOBE NEWSWIRE) — Bernstein Liebhard LLP, a nationally recognized investor rights law firm, is reminding investors of the deadline for filing a motion by lead plaintiff in a securities class action lawsuit filed on behalf of investors, who have purchased or otherwise acquired the publicly traded securities of MINISO Group Holding Limited (“MINISO” or the “Company”) (NYSE: MNSO) pursuant to and/or traceable to the Registration Statement and associated prospectus (collectively, the “Registration Statement”)” ) issued in connection with MINISO’s initial public offering in October 2020 (the “IPO” or the “Offering”). The lawsuit was filed in the United States District Court for the Central District of California alleging violations of the Securities Exchange Act of 1933.
MINISO claims to be a fast growing global retailer that supplies consumers primarily through its large network of MINISO stores.
On September 23, 2020, MINISO filed with the SEC a registration statement on Form F-1, which, together with its subsequent amendments, is referred to as the Registration Statement and is issued in connection with the IPO. On October 15, 2020, MINISO filed with the SEC the final prospectus for the initial public offering on Form 424B4 (the “Prospectus”), which forms part of the registration statement. At the IPO, MINISO sold 30,400,000 ADSs at $20 per ADS.
Throughout the registration statement, MINISO emphasized its purported business as an asset-light franchise model, its planned use of its IPO funds and rapid growth. However, MINISO failed to discuss the current status and model of its business, its dealings, its planned use of funds and concerns related thereto.
The plaintiff alleges that the defendants…
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