<article>Shanghai-based hotels chain operator <a href="https://www.dealstreetasia.com/?s=GreenTree Hospitality Group" target="_blank" rel="noopener">GreenTree Hospitality Group</a> on Tuesday filed with the SEC to raise up to $200 million in an initial public offering (IPO).</article>

Shanghai-based hotels chain operator <a href="https://www.dealstreetasia.com/?s=GreenTree Hospitality Group" target="_blank" rel="noopener">GreenTree Hospitality Group</a> on Tuesday filed with the SEC to raise up to $200 million in an initial public offering (IPO).
The group is looking to list on the <a href="https://www.dealstreetasia.com/?s=New York Stock Exchange" target="_blank" rel="noopener">New York Stock Exchange</a>.
As of December 31, 2017, GreenTree Hospitality&#8217;s hotel network comprised 2,289 hotels with 190,807 rooms in China, covering all four centrally-administrated municipalities and 263 cities throughout all 27 provinces and autonomous regions in China.
Founded in 2004, the group&#8217;s revenue for the year ended December 31, 2017 stood at nearly $120 million.
The proceeds from the IPO will be used for general corporate purposes, organic expansion of the hotel chain and for improvement of existing hotel properties. Besides, the funds will also be used for potential acquisitions of domestic and overseas operators, and to meet working capital needs, it said in the filing.
 <a href="https://www.dealstreetasia.com/?s=GreenTree Inns Hotel Management Group, Inc." target="_blank" rel="noopener">GreenTree Inns Hotel Management Group, Inc.</a> (GTI), a company incorporated in Samoa, or GreenTree Samoa, is the holding company of the GreenTree Hospitality Group, which conduct operations in China through PRC subsidiaries.
After the completion of this offering, GTI intends to register and distribute to each of its shareholders not more than 60 per cent of the number of our shares that represent the percentage of such shareholder’s ownership in GTI as of the closing date of this offering, it added.
Many Chinese companies are expected to go public in the U.S. in 2018 including two Chinese tech unicorns, or start-ups valued above $1 billion, ride-sharing service provider<a href="https://www.dealstreetasia.com/?s=Didi Chuxing" target="_blank" rel="noopener"> Didi Chuxing </a>and e-commerce website <a href="https://www.dealstreetasia.com/?s=Meituan-Dianping" target="_blank" rel="noopener">Meituan-Dianping</a>. Besides, Chinese electric vehicle startup <a href="https://www.dealstreetasia.com/?s=Nio" target="_blank" rel="noopener">Nio</a> is eyeing a $2 billion IPO, while <a href="https://www.dealstreetasia.com/?s=IQiyi Inc." target="_blank" rel="noopener">IQiyi Inc.</a>, the Chinese entertainment company backed by <a href="https://www.dealstreetasia.com/?s=Baidu Inc." target="_blank" rel="noopener">Baidu Inc.</a>, has also filed for the US IPO.
Seventeen Chinese companies held IPOs on Nasdaq in 2017, up from seven in 2016, said a recent South China Morning Post <a href="http://www.scmp.com/news/china/money-wealth/article/2131482/chinese-ipos-us-year-could-jump-much-30-cent-2017-nasdaq" target="_blank" rel="noopener">report</a> quoting data from the U.S. exchange. In total, about 110 companies are listed on Nasdaq from China, including e-commerce giant Alibaba Group Holdings Limited and online shopping centre JD.com Inc.
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Founded in 2004, the group's revenue for the year ended December 31, 2017 stood at nearly $120 million.

China's GreenTree Hospitality Group files for $200m US IPO

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China's GreenTree Hospitality Group files for $200m US IPO

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