Employees assist shoppers at the check-out counter during the opening of Miniso flagship store in New Delhi, India, on Aug 18, 2017. (PHOTO / BLOOMBERG)

Miniso Group Holding Ltd, the Chinese budget household and consumer goods retailer, raised US$608 million in a US initial public offering priced above a marketed range.

The company on Wednesday sold 30.4 million American depositary shares for US$20 each after marketing them for US$16.50 to US$18.50, according to terms of the deal obtained by Bloomberg News.

The company on Wednesday sold 30.4 million American depositary shares for US$20 each after marketing them for US$16.50 to US$18.50, according to terms of the deal obtained by Bloomberg News

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The company’s backers include Tencent Holdings Ltd., according to its filings with the US Securities and Exchange Commission. Each depositary share will represent four ordinary shares.

The listing follows 33 others on US exchanges this year by companies based in the Chinese mainland  and  the Hong Kong Special Administrative Region that raised a combined US$9.74 billion, according to data compiled by Bloomberg. Despite the coronavirus pandemic, that’s more than double last year’s total of about US$4 billion raised in 35 listings.

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The offering is being led by Goldman Sachs Group Inc. and Bank of America Corp. The shares are expected to begin trading Thursday on the New York Stock Exchange under the symbol MNSO.