Meng Niu: will the milk man deliver?

Roadshows begin on Wednesday May 25 for a $125 million to $175 million IPO.

Lead managers BNP Paribas Peregrine and Morgan Stanley are in the final stages of collecting pre-marketing feedback for the Hong Kong flotation of China's first dairy producer to list overseas editor's note this article was first published on Monday May 24. Meng Niu Dairy will offer 35% of its issued share capital as a result of the deal, which has a split of 75% primary shares and 25% secondary shares.

While a number of reports suggest fund managers are lowballing valuations into the low teens, pre-marketing feedback is said to be showing strong indications around the mid-teens level, with the prospect of pushing the valuation higher should markets continue to...

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