Peking Duck to List in Shenzhen
If you think that venture capital opportunities are confined to the technology sector, the solar industry, manufacturing, and perhaps finance, here's an upcoming IPO that will make your mouth water…
The oldest continuously operated restaurant in Beijing, China Quanjude, is going public. The IPO will be listed on the Shenzhen Stock Exchange, according to AHN.
China Quanjude started out as a roast duck stall in 1864 and now has 61 franchised restaurants – five of them outside China. They hope to make about $50 million from the IPO. The money will be used to “renovate outlets, upgrade production facilities and logistics units and boost liquidity,” according to AHN.
In 2006, China Quanjude sold an average of 8,200 cooked ducks a day. Wouldn't that have been nice to get in on three years ago…?
Source: China Venture News
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