Tencent, Fidelity Are Said to Plan Investing in Busy Ming’s IPO

Tencent Holdings Ltd., Fidelity International Ltd. and Temasek Holdings Pte are planning to invest in the Hong Kong initial public offering of Chinese snack retailer Busy Ming Group Co., according to people familiar with the matter.

The three firms are poised to be among the cornerstone investors in an IPO that could raise as much as $500 million, the people said, asking not to be identified because the information is private. Busy Ming is planning to start taking investor orders as soon as Tuesday, they said.