Chinese vegetable grower raises $170 million in Singapore IPO

China Minzhong Food, which counts GIC as a shareholder, will become the first Chinese company to list in Singapore in two years.

China Minzhong Food Corp, a China-based vegetable grower and processor, has raised S$236.8 million $170 million from an initial public offering, and is set to become the first Chinese company in two years to list in Singapore.

As a play on Chinese consumer demand, the deal was well received and a source said the order book was dominated by high-quality institutions, including Fidelity and Prudential which came in as cornerstones, buying 6.667 million and 25 million shares respectively, or a...

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