Hong Kong biscuit maker Cookies Quartet is planning an IPO to raise funds for expansion into Canada and Taiwan.
The company, founded by former Miss Hong Kong Tse Ning, pastry chef Yiu Man Wong and food writer Yuen Tung Kwan in 2008, now has eight stores in Hong Kong and a bakery in San Po Kong.
In a filing with the stock exchange, Cookies Quartet said it has an agreement with distributors in both new international markets and also plans to expand distribution in Mainland China where it has been selling online for two years.
Of Hong Kong’s 32 biscuit retailers, Cookies Quartet claims a market share ranking it second in revenue terms with sales of HK$80.7 million giving it 13.6 per cent of the market.
The company stated its profits at HK$24.7 million (US$3.1 million) this year, and $29.5 million last year.
