We advised Anjoy Foods on its public offering and listing of H shares

Davis Polk advised Anjoy Foods Group Co., Ltd., a company whose A shares are listed on the Shanghai Stock Exchange, on its public offering and listing of H shares on the Hong Kong Stock Exchange in reliance on Rule 144A and Regulation S. The gross proceeds from the offering amounted to approximately HK$2.4 billion before the exercise of the over-allotment option.

Anjoy Foods is a leading quick-frozen food company in China, dedicated to providing food products for various consumption occasions, whether at home, in restaurants or on the go. Anjoy Foods was the largest quick-frozen food company in China in 2024, ranking first in both the quick-frozen flavored and processed food market and the quick-frozen prepared dishes market. It also ranked fourth in the quick-frozen flour and rice food market in China in 2024.

The Davis Polk corporate team included partners Li He, Jason Xu and Ran Li, registered foreign lawyer Pengyao (Raymond) Lai and associate Calvin Lam. Members of the Davis Polk team are based in the Hong Kong and Beijing offices.

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