Chinese snack maker Weilong Delicious to price HK$10.56 in IPO

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Chinese snack maker Weilong Delicious to price HK$10.56 in IPO

The Chinese mainland's Snack food maker Weilong Delicious Global Holdings is going to price its shares at HK $10.56 each in its initial public offering to raise $130.6 million, according to two sources with direct knowledge of the matter.

Sources could not be named because the information was not yet public.

Weilong Delicious didn't say anything about its pricing.

The price set is at HK $10.40 to HK $11.40 each flagged to investors when the deal is launched on Monday.

Sources told Reuters that the company wanted to raise up to $1 billion, a cheaper version of Weilong's planned IPO in 2021.

Weilong, backed by major investors, sold 96.39 million shares in the IPO, according to its listing documents.

There were $16.7 trillion deals on stock Connect in the last eight years.

The company, founded in 1999 and based in Luohe city in Henan province in the Chinese mainland, makes popular spicy snacks made of soybeans and eggs. It produces non-spicy snacks.