Chinese retailer Wumart Stores has struck a HK$1.65bn (US$212.9m) share deal with private equity firms TPG and Hony Capital.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more


Wumart, the biggest retailer in Beijing, said today (12 August) that the two firms had agreed to buy a combined 100m so-called ‘H’ shares in the business for HK$11 a share.


In a separate deal, Wumart will sell 41.52m unlisted domestic shares to Hony Capital, and 8.48m shares to Hony’s parent, Legend Holdings, at CNY9.26 (US$1.35) per share.


After the transactions are complete, the funds will hold a 10.95% stake in Wumart, which posted a 21% jump in half-year profits yesterday.


Hong Kong-listed Wumart said Hony and Legend would help the retailer in its bid to list in mainland China within three years.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Meanwhile, TPG and Hony will be able to appoint one representative each onto Wumart’s board and form an M&A committee.


“The investors are experienced partners to entrepreneurs and growth companies, and each has a successful track record of investments in the People’s Republic of China,” Wumart said.


“The board intends to apply the net proceeds from the Proposed Issuances to fund the continued expansion of the Group’s store network in the People’s Republic of China and potential acquisitions.”