China’s Anjoy Foods eyes Southeast Asia and Europe after Hong Kong listing
Frozen food supplier is expected to raise as much as US$336.3 million by floating just under 40 million shares in Hong Kong

Anjoy Foods Group, mainland China’s largest producer of frozen hotpot ingredients, said it plans to expand in overseas markets like Europe and Southeast Asia after it lists in Hong Kong.
Liang Chen, board secretary of the Fujian-based company, told the Post that proceeds from the share sale would bolster its competitiveness in countries like Indonesia and Malaysia, where hotpot has been flourishing. Anjoy kicked off its Hong Kong bookbuilding on Wednesday, according to its listing prospectus.
“Southeast Asia is a fast-growing market where not a single established brand [of frozen food] can be found,” he said. “We believe it is a place for us to repeat our success after two decades of development in China.”
The company plans to raise as much as HK$2.64 billion (US$336.3 million) by selling 39.99 million shares at a maximum offer price of HK$66 each, according to its stock exchange filing, or a 21 per cent discount to its Shanghai-listed share price of 76.38 yuan (US$10.64/HK$83.62) on Tuesday.
Anjoy will allocate 10 per cent of the base offering to Hong Kong investors and 90 per cent to global investors, according to the filing. It is expected to start trading in Hong Kong on July 4, according to its tentative timetable.