DaChan Food kicks off $119 million IPO

The China-based food producer plans to use part of the proceeds to expand its processed food business in an attempt to raise its profitability.

DaChan Food, a manufacturer of chicken meat, animal feeds and processed food, launched the institutional roadshow for an initial public offering in Hong Kong last Friday. The manufacturer aims to raise up to HK$930 million $119 million.

The listing candidate is a Mainland-based subsidiary of Taiwan-listed DaChan Great Wall Enterprise and ranked the largest chicken slaughterer in China in 2005, according to a source. Apart from being an exclusive sourcing agent for McDonaldÆs in China,...

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