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Chinese food firm Zhouheiya seeks to raise $500m in IPO

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Staff writer ▼ | May 26, 2016
Zhouheiya Food, a Chinese food company known for its spicy dried duck snacks, is planning to go public in Hong Kong and raise up to $500 million.
Zhouheiya Food
China   New IPO in Hong Kong
According to the people familiar with the matter, the company is expected to file an application for an initial public offering in Hong Kong in the next couple of weeks.

It could be the first food firm seeking to list on the bourse this year, the newspaper said.

The company, established in Central China's Hubei province in 2006, has been expanding quickly in the past decade with chain stores and factories covering more than 10 Chinese cities in China.

It recorded a net profit of 306 million yuan ($46.7 million) in 2015, according to the newspaper citing data from China's company-registration website. Its investors include Shenzhen private-equity firm Tiantu Capital.