Mooncake maker mulls IPO to fund expansion

China Angel Food, a Shenzhen-based mooncake maker and catering service provider, is considering an initial public offering either in Hong Kong or on the mainland to raise funds for its expansion.

Chairman Patrick Liang Qiusheng said the company planned to float its entire business, which includes mooncake and leisure food production, a bakery chain and a catering service.

There was no definite timetable yet, Liang said.

China Angel Food was listed on the Singapore Exchange in July 2007, and raised more than 100 million yuan (HK$126 million) before being privatised in 2011. Liang refused to comment on the possible size of the second public offering.

"We have not decided on the IPO destination. But we will take our shareholders' opinions seriously," he said.

China Angel Food's three major shareholders are US asset management company Franklin Templeton Investments, private equity firm SEAVI Advent and Hong Kong-listed CK Life Sciences International.