Yuen Kee Food enters final stage of Hong Kong IPO after HKEX approval, sources say
The dumpling chain is likely to list in October following three funding rounds
Yuen Kee Food Group, the owner of well-known restaurant brand Yuen Kee Dumpling, has cleared its listing hearing with the Hong Kong Exchanges and Clearing (HKEX), aiming to raise between HK$300 million (US$38.3 million) and HK$400 million, according to people familiar with the matter.
The conclusion of the hearing marked its initial public offering (IPO) plan entering its final stage, and the company planned to kick off the offering in October, the sources said, who asked not to be named because they did not have permission to speak publicly about the matter.
Ahead of its IPO, Yuen Kee completed three funding rounds, bringing in BA Capital – a China-focused consumer sector investment firm which had previously backed Pop Mart and Heytea.
Huatai International and GF Securities are serving as joint sponsors.