November 29, 2017 / 2:14 AM / a year ago

Japan's Nissin Foods noodle unit plans $145 mln IPO in Hong Kong

HONG KONG, Nov 29 (Reuters) - Nissin Foods Co Ltd, an instant noodle unit of Japan’s Nissin Foods Holdings Co Ltd , said on Wednesday it aims to raise up to HK$1.13 billion ($145 million) in an initial public offering of shares in Hong Kong.

Nissin Foods Co plans to offer 268.58 million shares in the IPO, of which 10 percent will be earmarked for retail investors, at an indicative range of HK$3.45 to HK$4.21 apiece, the company said in a filing on Wednesday.

The final offer price will be announced on Dec. 8 and trade in the shares is expected to begin on Dec. 11. ($1 = 7.8038 Hong Kong dollars) (Reporting by Donny Kwok; Editing by Edwina Gibbs)

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