UPDATE 1-Uni-President China prices $477 mln IPO at mid-range

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HONG KONG, Dec 10 (Reuters) - Uni-President China Holdings Ltd, the mainland China arm of Taiwan's largest food and beverage conglomerate, raised US$477 million by pricing its Hong Kong share sale at the middle of its offering range as once-raging demand for new listings has cooled.

The company, which is being spun-off from Uni-President Enterprises (1216.TW: Quote, Profile, Research, Stock Buzz), sold 881.72 million shares, or 25 percent of its enlarged share capital, at HK$4.22 each, compared with an indicated range of HK$3.75-HK$4.68 each, a source familiar with the deal said on Monday.

The institutional portion of the deal was more than 10 times covered, the source added. But a handful of recent market newcomers have gotten off to poor trading starts in Hong Kong, prompting some issuers to pull back on their pricing expectations.

On Monday, for example, shares in Chinese refrigerants maker Dongyue Group Ltd (0189.HK: Quote, Profile, Research, Stock Buzz) fell as much as 12 percent in their first day of trading after raising $144 million in a Hong Kong IPO that was priced towards the bottom of its indicated range.

Uni-President China shares are scheduled to make their trading debut on Dec. 17. The deal was being sponsored by UBS (UBSN.VX: Quote, Profile, Research, Stock Buzz) (UBS.N: Quote, Profile, Research, Stock Buzz) and Morgan Stanley (MS.N: Quote, Profile, Research, Stock Buzz).

(US$1=HK$7.8)

(Reporting by Kennix Chim, editing by Dominic Whiting)