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Chinese pork producer WH Group cuts HK IPO to $1.88 bln-term sheet
April 23, 2014 / 6:46 AM / 3 years ago

Chinese pork producer WH Group cuts HK IPO to $1.88 bln-term sheet

HONG KONG, April 23 (Reuters) - WH Group Ltd has cut the number of shares in its Hong Kong initial public offering, reducing the size of the deal to up to $1.88 billion from the $5.3 billion originally planned, according to a term sheet seen by Reuters on Wednesday.

The company is offering 1.299 billion new shares, down from the 3.65 billion new and existing shares in its original plan. The price range of HK$8.00 to HK$11.25 per share ($1.03-$1.45) remains unchanged.

The IPO is slated to be priced on April 29, with the shares debuting on the Hong Kong stock exchange on May 8, according to the term sheet. ($1 = 7.7527 Hong Kong Dollars) (Reporting by Elzio Barreto; Editing by Miral Fahmy)

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