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Juewei Food Scraps Planned Hong Kong Listing
Under pressure of demand, Juewei Food Co.,Ltd. has terminated its plan to go public in Hong Kong | Quick read announcement.
① Juewei Food Co.,Ltd. stated that due to adjustments in the company's Global Strategy and Operation status, it has decided to terminate its Listing in Hong Kong. ② At that time, when planning to issue Hong Kong stocks, the company did not receive positive feedback from the market. In fact, two months before announcing its IPO in Hong Kong, Juewei Food Co.,Ltd. had just completed a round of fixed increase funding. ③ Changes occurred earlier this month. On December 5, the company announced a postponement of its fixed increase fundraising project.
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Juewei Food Co.,Ltd. (603517.SH): Ceasing the plan to issue Listed in Hong Kong Stocks and list on the Main Board of the Hong Kong Stock Exchange.
On December 23, Glonghui reported that Juewei Food Co.,Ltd. (603517.SH) announced the convening of the 24th meeting of the 5th Board of Directors on December 23, 2024. It approved the proposal to terminate the issuance of Overseas Listed Foreign Shares (H Shares) and to list on the Hong Kong Stock Exchange. Due to adjustments in the company's development strategy and operating conditions, and in consideration of safeguarding Shareholder interests and being responsible to Shareholders, a comprehensive evaluation of the current actual operating conditions, funding requirements, and Business development planning was conducted. After careful discussion and analysis and repeated communication and validation with Institutions, the company decided to terminate the planning of issuing H Shares.
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