Frozen food giant Anjoy kicks off book building to raise $2.6b

Anjoy Foods has opened its retail book, aiming to raise HK$2.64 billion in its Hong Kong initial public offering. 

The Chinese frozen food giant plans to sell 39.99 million of its shares with a minimum investment of HK$6,666.6 per board lot of 100 shares. 

The company intends to use 35 percent of the net proceeds from the share sale to expand its sales and distribution network, another 35 percent to strengthen procurement capabilities, optimize supply chain, 15 percent to digitize its business operations, and the rest for product development, technological innovation, and working capital. 

STAFF REPORTER