Top Chinese caviar producer Kaluga Queen is said to mull Hong Kong IPO

The company behind Kaluga Queen, the world’s biggest caviar producer, is considering an initial public offering in Hong Kong, according to people familiar with the matter. Hangzhou Qiandaohu Xunlong Sci-Tech Company has contacted advisers to work on the potential share sale, the people said, asking not to be identified because the information is private. Deliberations are ongoing and details such as size of the offering haven’t been decided, the people said. Qiandaohu didn’t respond to requests for comment. Hong Kong IPO market rebounds with $16B surge The IPO plan coincides with a sharp rebound in share sales in Hong Kong, driven by growing confidence around China and a 24% surge in the benchmark Hang Seng Index this year. The city has seen local debuts raise more than $16 billion in 2025 already, data compiled by Bloomberg show. Based in China’s Zhejiang province, Qiandaohu previously looked to go public in Shenzhen in 2012, but the IPO never materialized. Kaluga Queen has become an established name in caviar, an industry historically dominated by Russia and Iran until overfishing affected supplies. By Julia Fioretti Read more: Caviar has become the Costco rotisserie chicken of fine dining Runway to restaurant: Prada’s dining strategy targets Gen Z Will Pelliot’s IPO redefine China’s outdoor market? Mao Geping eyes $1.8B IPO windfall

Top Chinese caviar producer Kaluga Queen is said to mull Hong Kong IPO

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Published July 31, 2025

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Top Chinese caviar producer Kaluga Queen is said to mull Hong Kong IPO