Huishan Dairy plans up to $1.3 bln Hong Kong listing -IFR
HONG KONG, Sept 9
HONG KONG, Sept 9 (Reuters) - China Huishan Dairy, the largest producer of dairy products in northeast China, plans to raise up to $1.3 billion in a Hong Kong initial public offering, IFR reported on Monday, citing sources familiar with the deal.
The company is offering 3.79 billion shares in a range of HK$2.28-$2.67 each, valuing the deal at up to HK$10.12 billion, said IFR, a Thomson Reuters publication. Bookbuilding is set to begin on Tuesday, with pricing slated for Sept. 19.
Huishan is hoping that foreign investors will eager to snap up shares amid soaring demand for milk and powdered milk in China, and as new listings on Hong Kong's stock exchange look set to pick up in the second half of the year.
Deutsche Bank, HSBC, Goldman Sachs and UBS are the investment banks leading the Huishan Dairy offering. CIMB, Investec Capital Asia and Jefferies will also act as joint bookrunners. (Reporting by Fiona Lau of IFR; Writing by Elzio Barreto; Editing by Edwina Gibbs)
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