On December 15, 2022, WEILONG Delicious Global Holdings Ltd (" WEILONG ", stock code: "09985.HK") completed its initial public offering and listing on the Main Board of the Hong Kong Stock Exchange. At HK $10.56 a share, WEILONG raised about HK $898 million in net proceeds.

 

WEILONG is mainly engaged in the R&D, production and sales of spicy snack food. According to the data, WEILONG ranks first among all Chinese enterprises of spicy snack food based on the retail sales in 2021, with a market share of 6.2%, 3.9 times that of the second largest enterprise, more than the sum of the market shares of the second to fifth largest enterprises, and ranks first in the market shares of flavored flour products and spicy leisure vegetable products.

 

The listing was co-sponsored by Morgan Stanley, CICC and UBS Securities.

Clifford Chance LLP acted as the legal counsel for the issuer in Hong Kong and Commerce & Finance Law Offices acted as the legal counsel for the issuer in China.

Paul Hastings LLP acted as Hong Kong and US legal counsel for the underwriters, while Jingtian & Gongcheng acted as China legal counsel for the underwriters.

Auditing services are provided by PwC.

Frost & Sullivan is an industry consultant.