WH Group hires record 28 book-runners for up to $6bln IPO - IFR
HONG KONG, March 26
HONG KONG, March 26 (Reuters) - Chinese pork producer W.H. Group, which last year acquired U.S-based Smithfield Foods, has hired 28 book runners for its planned $5-6 billion Hong Kong listing, a record number for banks working on an Asian IPO, IFR reported on Wednesday.
W.H. Group's jumbo underwriting team would surpass the previous record of 21 banks that worked on China Galaxy Securities Ltd's $1.1 billion IPO last year, the report added.
W.H. Group is set to seek approval from the Hong Kong stock exchange's listing panel for its planned offer on Thursday, IFR, a Thomson Reuters publication reported.
BOC International, Citic Securities International, DBS, Goldman Sachs, Morgan Stanley, Standard Chartered and UBS are the sponsors for the offer. They would join Bank of America Merrill Lynch, Rabobank, Barclays, CICC, Deutsche Bank, ICBC International, Credit Suisse and JP Morgan as joint global coordinators. There are 13 other book-runners, the report said. (Reporting by Fiona Lau at IFR; Editing by Miral Fahmy)