Sequoia-backed Chinese snack maker Ganyuan gets nod for $135m local IPO

Sequoia-backed Chinese snack maker Ganyuan gets nod for $135m local IPO

Source: Remi Yuan/Unsplash

Ganyuan Foods, a Chinese snack food producer backed by Sequoia Capital China, has received a green light from the country’s securities regulator on Thursday to proceed an initial public offering (IPO) to raise 954 million yuan ($135 million) on the SME Board of the Shenzhen Stock Exchange (SZSE).