The initial public offering of Zhouheiya, a Hubei province-based fast food chain known for its spicy-braised duck neck and other ready-to-eat snacks, opened for subscription in Hong Kong on Tuesday [1 November 2016], looking to raise up to HK$3.3 billion ($425.7 million). The braised food producer and retailer, scheduled to make its trading debut on Nov 11, will sell 424 million shares at an indicative range between HK$5.8 and HK$7.8 apiece…Full Article: ECNS.cn Nov 2016
- Hubei Zhouheiya Food has 715 retail stores located in 38 cities across 12 Chinese provinces.
- In May 2016, Hubei Zhouheiya Food (aka Zhou Hei Ya International Holdngs) announced it would hold an IPO on the Hong Stock Exchange and hoped to raise US$500 million.
- In January 2016, 35 Chinese restaurants/snack bars were under investigation for the use of illegal food ingredients, including poppy capsules. Two of the restaurants/snack bars under investigation sold “Zhouheiya” branded products.
- In 2015, Hubei Zhouheiya Food recorded a net profit of CNY 306 million (US$46.7 million).
- In November 2010, Hubei Zhouheiya Food received an investment from Tiantu Capital, a private equity firm based in Shenzhen.
- Founded in 2002 and headquartered in Wuhan, Hubei Province, Hubei Zhouheiya Food (HKG:1458) is a producer and distributor known for its duck meat products. The company sells its products in Beijing, Shanghai, Tianjin, Chongqing, Wuhan, Guangzhou, Shenzhen, Changsha, Hangzhou, Zhengzhou, Nanjing, Nanchang.