Huishan Dairy kicks off IPO of up to $1.3b

The Chinese milk producer has the support of three cornerstone investors and people close to the situation say the deal was covered on day one.
Huishan Dairy will be a test of investor appetite after the secondary market correction in June and the summer-related slow-down in capital markets activity in August.
Huishan Dairy will be a test of investor appetite after the secondary market correction in June and the summer-related slow-down in capital markets activity in August.

China Huishan Dairy Holdings, a vertically integrated Chinese milk producer, on Tuesday launched the institutional bookbuilding for its initial public offering of between HK$8.64 billion and HK$10.11 billion $1.11 billion to $1.30 billion.

It is the largest IPO to hit the Hong Kong market since May when Sinopec Engineering and China Galaxy Securities raised $1.8 billion and $1.1 billion respectively. Those deals remain the two largest listings in Hong Kong so far this year and Huishan Dairy will be a test of investor appetite after the secondary market correction in June and the summer-related slow-down in capital markets activity in August.

As usual, there...

¬ 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