Dali Foods takes small serving as IPO raises $1.1b

Food and beverage group prices low amid strong price sensitivity shown by institutional investors, partly due to market turbulence.

Chinese food and beverage manufacturer Dali Foods priced an initial public offering in Hong Kong on Friday at the lower half of the indicative price range amid strong price sensitivity shown by institutional investors.

The final price was settled at HK$5.25 per share against an indicative price range of HK$5.00-HK$6.15, generating total proceeds of HK$8.9 billion $1.1 billion, a source familiar with the situation told FinanceAsia.

Overall, the institutional tranche was multiple-times covered but orders were heavily concentrated in the lower half of the price range. Pricing in the upper half was not possible as there has not been sufficient demand...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222