silver-base-tests-market-for-100-million-ipo

Silver Base tests market for $100 million IPO

Hong Kong and mainland Chinese investors have already shown interest in the liquor distributor.

Chinese liquor distributor, Silver Base Group, started pre-marketing yesterday for a Hong Kong initial public offering that is expected to raise around $100 million, says a source. This is the second time that the company has tested the market last summer it looked into the possibility of a larger deal, only to pull out due to unenthusiastic investor sentiment.

The company is one of the largest distributors of Wuliangye, a famous brand of the Chinese distilled white liquor, baijiu. Silver Base has been selling the product to the international market, including Hong Kong, since 1997 and in China since 2006. International sales of Wuliangye accounted for 61.6% of the company's revenue in the first...

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