Caviar king Qiandaohu Xunlong passes Hong Kong listing hearing
Leading global caviar producer Hangzhou Qiandaohu Xunlong Sci-Tech Co. Ltd. has passed its listing hearing with the Hong Kong Stock Exchange, paving the way for the company’s IPO to proceed in the coming weeks, according to Chinese media reports on Sunday.
The company plans to sell up to 18.8 million ordinary shares in the IPO, according to the listing’s registration with the China Securities Regulatory Commission (CSRC) dated May 22. Another 31 current shareholders plan to sell 92.6 million shares in the listing as well, according to the registration document.
Xunlong’s revenue rose from 577 million yuan ($85.3 million) in 2023 to 769 million yuan last year, while its profit climbed from 270 million yuan to 363 million yuan over that time. The listing is being underwritten by Citic Securities and China Securities International.
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