Wing Yip Food Holdings Group, which processes and sells meat products in China, raised $8 million by offering 2.1 million ADSs at $4, the low end of the range of $4 to $5.
Wing Yip Food Holdings Group 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 plans to list on the Nasdaq under the symbol WYHG. Dawson James and D. Boral Capital acted as joint bookrunners on the deal.
