Wunong Net Technology Aims For $37 Million U.S. IPO

Wunong Net Technology Company (WNW) aims to raise $37 million in an IPO of its ordinary shares, according to an F-1 registration statement.

Shenzhen, China-based Wunong was founded to create a food marketplace website that sells agriculture products to a variety of end users such as consumers, restaurants, lodging facilities and others.

More recently, management has opened a restaurant and seeks to create a franchise business model, with agreements signed for 25 restaurants in the Shenzhen area.

The restaurant initiative has been delayed due to the Covid-19 pandemic but management plans to actively deploy its ‘restaurant expansion and franchising plans beginning the third quarter of 2020.’

Management is headed by Chief Executive Officer Mr. Xiangang Qin, who was previously an agriculture and related products technology specialist.

Wunong has received at least $1 million from investors including Union International Company Limited, Kindness Global, Four Dimensions Global, Wisdom Global, Soaring International, Morning

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