HONG KONG, April 10 China's WH Group Ltd, the
world's largest pork processor, launched on Thursday a Hong Kong
initial public offering of up to $5.3 billion, according to a
term sheet seen by Reuters.
The company and some of its shareholders are offering 3.65
billion shares in a range of HK$8.00 to HK$11.25 a share,
putting the total deal at up to HK$41.06 billion ($5.3 billion).
That could grow to $6.11 billion if underwriters exercise a
greenshoe option to meet additional demand.
That would make it the second biggest ever IPO by a food
company, behind Kraft Food Inc's $8.7 billion listing in June
2001, and the largest new listing in the Asia-Pacific region
since AIA Group Ltd raised $20.5 billion in October
Pricing for the IPO is slated for April 22, with the shares
making their debut on the Hong Kong stock exchange on April 30.
($1 = 7.7531 Hong Kong Dollars)
(Reporting by Elzio Barreto; Editing by Ryan Woo)