China Yurun prices at top of the range

Investors buy into growth and brand as subscription levels soar.

China's third-largest pork processing company ended up pricing IPO last Friday (September 23) at HK$3 70 per share - the top end of a HK$2 85 to HK$3 70 indicative range

The company will raise $198 million pre-greenshoe, or $228 million if the greenshoe, comprising 62 million shares, is exercised In the latter case, the Goldman Sachs led IPO will rank as the largest flotation by a food and beverage company on the Hong Kong Stock Exchange

The company, listing as a red chip, saw its Hong Kong retail portion over-subscribed around 156 times, thereby triggering the claw back provision upping the retail portion of the base offering to 50% from 10% The international portion...

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