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Impossible Foods to roll out meatless pork in HK, Singapore, U.S. By Reuters

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© Reuters. FILE PHOTO – Impossible Foods’ plant-based beef products can be seen in a fridge at a meat section in a Hong Kong supermarket, China on October 20, 2020. REUTERS/Lam Yik/File Photo/File Photo

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HONG KONG (Reuters) – Impossible Foods is rolling out its meatless pork product in Hong Kong in October and Singapore later in the year as it tries to bolster its footprint in the fast-growing plant-based food space.

According to the California-based company, the minced pork replacement will be sold in 120 Hong Kong restaurants starting Oct 4.

It will be available in some Hong Kong grocery store as ready to cook meals. On September 23, the company also launched its new product in New York’s Momofuku Ssam Bar.

Reuters reported April 23 that Impossible is preparing for a public stock exchange listing. The company, which produces fake beef products, could be valued at $10 billion and more. Impossible plans to go public via an initial public sale (IPO) within the next twelve months, or through a merger with a “special acquisition company” (SPAC).

“It’s a natural step in evolution and growth of our business but the timing is really (to be decided) and we will see how it goes over the course of the next year,” Dennis Woodside (OTC:), president of Impossible Foods, told Reuters in an interview.

Impossible’s pork product, which is made from the same key ingredient as its beef product– soy -enters the Hong Kong market at a time when homegrown brands, including Green Monday’s Omnipork have already made inroads into the pork substitutes market in Asia’s financial hub.

Impossible’s product will be priced higher than animal pork to start with but the company said it aims to continually drive down prices as it has done for its Impossible Beef products.

“We are optimizing our manufacturing process, really every month, and continually growing our manufacturing footprint and as we fill up our factories that is when we can lower unit cost,” Woodside said.

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