Latiao manufacturer Weilong Food plans to raise $1 billion for HK IPO

Chinese snack manufacturer Weilong Food is planning to go public on the Hong Kong stock exchange next year. The company aims to raise $1 billion ahead of its listing.

In 2019, Weilong’s sales revenue exceeded 4.9 billion RMB, a 43% increase year-on-year.

Weilong is most famous for its latiao 辣条, a spicy chewy snack, which has a huge market in China and is especially popular among Chinese young people. There are many trending sentences about latiao on Chinese social media sites like Weibo:

“Taste one Latiao and you will calm down”

“I have a Latiao who would like to be my friend”

“There is nothing that can’t be solved by a pack of Latiao, if not, try the second pack.”

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