Wing Yip Food Holdings Group, which processes and sells meat products in China, filed on Wednesday with the SEC to raise up to $30 million in an initial public offering. The company is currently listed on the Korea Exchange under the symbol "900340."
Through operating subsidiaries in mainland China, the company engages in the processing, sale, and distribution of cured meat products, snack products, and frozen meat products. Wing Yip's products are currently primarily marketed and sold across 18 provinces in mainland China through seven self-operated stores, 72 distributors consisting of retail outlets and supermarkets, and seven e-commerce platforms, including one company-owned platform.
The Zhongshan, China-based company traces its roots to 1915 and booked $131 million in sales for the 12 months ended June 30, 2023. It plans to list on the Nasdaq under the symbol WYHG. Wing Yip Food Holdings Group filed confidentially on November 29, 2023. EF Hutton is the sole bookrunner on the deal. No pricing terms were disclosed.
