Tim Hortons China to list on Nasdaq this week · TechNode

Tim Hortons China, the Chinese language operation of the Canadian espresso chain, is anticipated to start buying and selling on Nasdaq on or round Sept. 29 beneath the image THCH, in response to Chinese language media outlet 36Kr. The SEC beforehand disclosed that the corporate might be listed on Nasdaq as a SPAC. Since getting into the Chinese language market in 2019, Tim Hortons China has accomplished 4 financing rounds, in response to the enterprise database Qichacha. The database states that the corporate obtained a strategic funding of a whole bunch of tens of millions of yuan from Tencent in Might 2020. A yr later, it introduced the second spherical of financing led by Sequoia China and in addition involving Tencent. Tims China presently has greater than 410 shops in 20 cities in China. Knowledge disclosed by the corporate reveals its income has been rising since 2019, however its total internet loss has additionally been increasing. [36Kr, in Chinese]