Deals
Edible Bird’s Nest Maker Yanzhiwu Weighing $200 Million Hong Kong IPO, Sources Say
- Firm picked CICC and GF Securities to work on its listing
- A first-time share sale may happen as soon as fourth quarter
A birds nest dessert in Shanghai.
Photographer: Johannes Eisele/AFP/Getty Images
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Xiamen Yan Palace Bioengineering Co., a Chinese edible bird’s nest producer, is considering a Hong Kong initial public offering that could raise about $200 million, according to people familiar with the matter.
Endorsed by actress Zhao Liying, the company known as Yanzhiwu is working with China International Capital Corp. and GF Securities Co. to prepare for the first-time share sale, said the people, who asked not to be identified as the information is private. The IPO could take place as soon as the fourth quarter of this year, the people said. Yanzhiwu had previously applied for a Shanghai IPO but formally withdrew it last year.