Dali Foods IPO takes financial sector off the menu

Chinese food and beverage manufacturer launches Hong Kong flotation as several companies prepare listings that break diet of issues from the financial services sector.
Tuck in to a new sector
Tuck in to a new sector

After an unremitting diet of financial services companies, the Hong Kong initial public offering market is finally getting a taste of another sector with the flotation of Dali Foods.

The Chinese food and beverage manufacturer is the first of a slew of companies hitting the market before the end of year, which hope to re-energise investors’ appetite.

The Fujian-based group kicked off its global roadshow on Wednesday with a deal that could generate proceeds of up to HK$10.4 billion $1.34 billion pre greenshoe.

The transaction comprises 12.4% of the group’s enlarged share capital and constitutes all primary shares. This means existing...

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