HONG KONG Feb 28 Huisheng International
Holdings Ltd was set to jump 7.3 percent in its Hong Kong
trading debut on Friday after retail investors flocked to the
bite-sized IPO to bet on rising demand for meat products in
Huisheng was indicated to open at HK$2.20 compared
with an initial public offering price of HK$2.05 per share. The
IPO, which raised $31.7 million, priced at the top of a
HK$1.45-HK$2.05 per share marketing range.
Robust demand for Huisheng shares bodes well for industry
giant WH Group, formerly known as Shuanghui International
Holding, which is slated for an up to $6 billion Hong Kong
listing in April.
The retail portion for Huisheng's deal generated 2,188 times
more orders than the shares on offer, the second-highest ever
level of oversubscription in the city after night club operator
Magnum Entertainment Group Holdings Ltd's listing in
The benchmark Hang Seng index was indicated to start
0.5 percent higher.
(Reporting by Elzio Barreto; Editing by Edwina Gibbs)