South Beauty to list in Hong Kong next year

South Beauty, a Beijing-based upscale restaurant chain, is expected to be listed in Hong Kong next year.

The restaurant opened nearly 20 outlets in 2012, up from last year's 16, An Yong, president of the South Beauty Group, told the Guangzhou Daily during the weekend.

The report quoted An as saying that Chairman of the Board Zhang Lan hoped their plans to open new stores in 2013 will not be slowed down.

A recent controversy over the change of nationality of Zhang Lan from China to a foreign country has brought attention to the company's public listing.

An Yong said there are no hurdles in approval procedures for their public offering in Hong Kong. The company is waiting for the best time to list, the Guangzhou Daily reported.

South Beauty dropped its first attempt to go public in January. The company hopes to raise as much as $200 million from the Hong Kong stock exchange, the paper said.