05:11 AM EDT, 06/05/2025 (MT Newswires) -- (Updates to include JPMorgan's ( JPM ) response in the fourth paragraph.)

Miniso ( MNSO ) has selected JPMorgan Chase ( JPM ) and UBS (UBS) to lead the planned Hong Kong initial public offering of its toy unit, Top Toy, Bloomberg News reported Wednesday, citing unnamed sources familiar with the matter.

The company is also seeking new investors for Top Toy, including potential backing from sovereign wealth funds, ahead of the offering, according to the report.

Additional banks may be brought on board for the IPO, the sources said.

UBS and JPMorgan ( JPM ) declined to comment, while Miniso ( MNSO ) did not immediately respond to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)