It is not yet known whether Junlebao will be an A-share company or an H-share company.
Junlebao Dairy Group, a Chinese manufacturing and distribution company of dairy products, announced that it has officially launched its IPO process, with the aim of landing in the capital market in 2025.
Previously, Junlebao was rumoured to raise USD 700 million on the Hong Kong Stock Exchange, while the diary giant said there were currently no plans to revive a public listing.
"Junlebao is more concerned with making the business bigger and stronger at the moment than hitting the capital market," people familiar with the matter said.
Zhong Yan, the vice president of Junlebao, denoted in an interview that the company overcame many adverse influences and maintained a double-digit growth in sales in the first half of 2022.
"We endeavour to top the market with unremitting efforts in several categories."
Founded in 1995 and headquartered in Hebei Province, Junlebao produces yoghurt, liquid milk and infant milk powder formula, according to its website. The group now has 21 manufacturing plants and 17 modern large-sized dairy farms across China.
China is the fourth largest dairy producer in the world and the second largest in Asia, according to Statista, which also gives rise to a bunch of players. They include the most well-known Mengniu Diary (2319:HK), Yili, Danone and Feihe.