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Chinese pork firm's $6.6b IPO set to be the biggest in a year

Published on Apr 10, 2014 2:23 PM
 
Some of the products made by WH Group Ltd. under Chinese brand names are displayed during an investment luncheon in Hong Kong on April 10, 2014. WH Group hopes to raise more than $5 billion in what would be the world's biggest initial public offering for a year as it plans to list in Hong Kong, giving a boost to the city's IPO market. -- PHOTO: REUTERS

HONG KONG (AFP) - Chinese pork producer WH Group hopes to raise more than $5 billion in what would be the world's biggest initial public offering for a year as it plans to list in Hong Kong, giving a boost to the city's IPO market.

The company - which last year bought US giant Smithfield Foods in a landmark multi-billion-dollar deal - will sell 3.66 billion shares at an indicative price range of HK$8.00-HK$11.25 each.

If the Henan-based firm, formerly known as Shuanghui International Holdings, sells its shares at the top end of the range, it would raise US$5.3 billion (S$6.6 billion). That would make it the largest IPO globally since Brazil's BB Seguridade Participacoes SA raised US$5.7 billion in April last year.

It would also be Hong Kong's biggest since US insurer AIA raised US$20.5 billion in 2010. WH Group's shares are expected to list on April 30, according to Dow Jones Newswires.

 
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