China Yurun bets on brand, growth for IPO

Mainland pork processor hopes to prepare a juicy banquet for its investors.

China Yurun Food, China's third largest pork processing company is betting that its brand, growth prospects and superior quality will help it raise up to HK$1.5 billion $192 million from its Hong Kong IPO later this month. The company will finish its roadshows in San Francisco and price its offer next Thursday September 22, Hong Kong time under the lead of Goldman Sachs.

The range has been set at HK$2.85 to HK$3.70 per share, or 11.8 to 15.3 times 2005 forecast earnings, estimated at Rmb 350 million $43 million for this year, compared to Rmb 169 million in 2004. The company will offer 416.1 million shares, equating...

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