China’s Muji Wannabe Raises $6.08 Billion in New York IPO

Miniso Co. Ltd.’s stock closed up 4.4% late Thursday, after surging as much as 22% in its debut on the New York Stock Exchange that raised $6.08 billion.

The Guangzhou-based budget household goods retailer, which has been described as a copycat of Japanese brand Muji, is among many Chinese companies going public in the U.S., even as others flee U.S. financial markets amid increased regulatory scrutiny and hostility from Washington.