Chinese edible bird's nest producer Xiamen Yan Palace Bioengineering has applied for a long-sought initial public offering in Hong Kong which would be the first of its kind amid growing competition and greater scrutiny of IPOs in the mainland.
The proposed share sale could raise about US$200 million (HK$1.56 billion).
Founded in 1997, the company behind the Yanzhiwu brand was the largest edible bird's nest producer in China and globally last year, according to its preliminary prospectus citing a Frost & Sullivan report.