Hong Kong – Minor Food, a subsidiary of Thailand’s Minor International, is said to be considering a Hong Kong initial public offering (IPO) by the end of 2026, aiming to leverage the city’s deep capital markets and broaden its pool of potential investors.
According to the Bangkok Post, Minor International’s group chief executive officer Dillip Rajakarier said the company sees an opportunity in Hong Kong’s stock market, which offers higher valuations and a broader investor base than Thailand.
He added that the listing could take place by year-end, as the company seeks both strong valuation and optimal timing.
This year, Minor Food is focusing on brands with high growth potential, targeting both domestic and international markets. In Thailand, the company plans to open 10 Pizza Company outlets, 50–60 Dairy Queen stores, 10 Bonchon Chicken outlets, 40 Gaga stores, and 40–50 Steak and More branches.
Rajakarier also said that overseas expansion priorities include Indonesia, identified as a new strategic hub with strong consumer demand, and India, with its large population. Vietnam and Laos remain key markets for growth through franchise and asset-light models.
The report also noted that Minor Hotels is preparing to launch a US$1 billion real estate investment trust (REIT) on the Singapore Exchange in the second half of 2026, comprising 12 properties in Europe and two in Thailand.
The company also plans to prioritise digitalisation, including the use of artificial intelligence in back-of-house operations and customer call centres.
