Hong Kong’s richest man, Li Ka-shing’s Harbour Investment, has a stake in Impossible Foods, a maker of “plant-based meat,” which plans to go public in the United States. The report cited sources as saying that “the plant-based meat maker” (Impossible Foods), in which Li Ka-shing, the richest man in Hong Kong, has a stake, plans to go public in the United States.
The report quoted sources as saying that Impossible Foods is studying ways to go public, including a traditional “initial public offering” (IPO), as well as a merger with a special purpose acquisition company (SPAC). It is understood that Impossible Foods has hired a financial advisor to help negotiate the listing arrangements, and the listing is still under discussion. “Impossible Foods declined to comment on the matter.
Founded in 2011, Impossible Foods has a strong lineup of investors, including venture capital firm Khosla Ventures and Li Ka-shing’s The company’s investors include venture capital firm Khosla Ventures and Li Ka-shing’s “Harbour Investment”, famous tennis star Serena Williams, rapper Jay-Z and others.
“Impossible Foods did well last year, increasing the number of points of sale from 150 to 20,000. After the outbreak, “Impossible Foods”, which provides ingredients for veggie burgers for fast food restaurants, benefited as fast food restaurants were more popular than independent niche restaurants. “Impossible Foods raised a private funding round in 2020, valuing the company at $4 billion.
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