Luohe Weilong Trading, a Chinese food manufacturer, has closed a pre-IPO financing round. This round was led by Tencent, CPE Yuanfeng and Hillhead, and Sequoia China. This is the first time Luohe Weilong Trading has raised external capital since it was founded more than 20 years ago. This pre-IPO funding round will be used for their IPO as Luohe Weilong Trading is reportedly working with CICC, Morgan Stanley, and UBS to conduct an IPO in Hong Kong in the first half of 2021.
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