South Beauty on track for Hong Kong listing

South Beauty, a Beijing-based high-end restaurant chain, has passed the hearing for its application to be listed in Hong Kong, South Beauty CEO Wang Xiaofei said on Tuesday.

Going public in Hong Kong is just a matter of time, said a source at South Beauty, Beijing Times reported on Wednesday.

In 2012 South Beauty opened 20 outlets, giving it a network in first-tier cities across the country.

Wang said the restaurant chain plans to open more outlets in second and third-tier cities but will not open franchises, according to Wang.

South Beauty filed its application for an IPO in the A-share market in March 2011, but dropped its attempt to go public in the Chinese mainland early in 2012.