Shengmu milk IPO leaves fundraising semi-skimmed

Chinese organic milk producer slashes Hong Kong offering in face of the milk sector's poor secondary market performance.

China Shengmu Organic Milk launched a HK$1.1 billion to HK$1.3 billion ($139 million to $169 million) IPO on Monday, a far cry from original ambitions to source up to US$800 million.

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