Yuen Kee Food Group has received approval from the Hong Kong Exchanges and Clearing for its IPO, with plans to launch the offering in October.
Key facts
- •Yuen Kee Food Group aims to raise between HK$300 million and HK$400 million.
- •The IPO is scheduled to launch in October.
- •BA Capital, which has backed Heytea and Pop Mart, participated in three funding rounds for the company.
- •Huatai International and GF Securities are serving as the joint sponsors for the listing.
- •The company operates 4,773 outlets across more than 250 mainland Chinese cities as of late May.
Yuen Kee Food Group, the owner of the Yuen Kee Dumpling restaurant brand, has cleared its listing hearing with the Hong Kong Exchanges and Clearing (HKEX). The company is aiming to raise between HK$300 million and HK$400 million in its initial public offering, which is expected to begin in October.
By the numbers
Funding and Market Presence
Before moving toward its IPO, Yuen Kee completed three funding rounds. These rounds included investment from BA Capital, a firm focused on the Chinese consumer sector that has previously backed companies such as Pop Mart and Heytea. Huatai International and GF Securities are acting as joint sponsors for the listing. As of late May, Yuen Kee operated 4,773 outlets globally. Its footprint spans more than 250 cities in mainland China, with the majority of these locations operating as franchised stores.
IPO Outlook
While the company is moving into the final stage of its IPO process, the final amount raised remains subject to change based on investor demand and the company’s valuation. Sources noted that the timing and size of the offering could still be adjusted.
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This article was independently rewritten by ManyPress editorial AI from reporting originally published by SCMP Business.
