Huishan Dairy prices at the top to raise $1.3 billion

The milk producer attracts strong demand from both retail and institutional investors, setting a positive trend for other IPOs in the pipeline.

Huishan Dairy prices at the top to raise $1.3 billion
As a domestic consumption play, Huishan Dairy operates in a sector that is one of the key focus areas for global institutions as they increase their exposure to China.

China Huishan Dairy Holdings has raised HK$10.11 billion $1.3 billion from its initial public offering after fixing the price at the top of the indicated range. The vertically integrated milk producer will start trading on the Hong Kong stock exchange on September 27.

The deal is the second largest IPO in Hong Kong this year after Sinopec Engineering’s $1.8 billion offering in May and benefited from a more favourable view towards China and Chinese...

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