April 10, 2014 / 12:30 AM / in 4 years

Chinese pork giant WH Group, shareholders plan $5.3 bln IPO-term sheet

HONG KONG, April 10 (Reuters) - 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 2010.

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)

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