unipresident-to-spin-off-china-business

Uni-President to spin off China business

The instant noodle and drinks maker aims to raise $570 million. Cornerstones sign up for $120 million of the total deal.
Uni-President China Holdings yesterday kicked off the institutional marketing for a Hong Kong initial public offering that aims to raise between HK$3.31 billion and HK$4.13 billion $425 million to $530 million.

The deal size is at the low end of the $500 million to $700 million deal initially talked about, which is likely a reflection of the downturn in the secondary market over the past three weeks that has pushed valuations lower. However, Uni-PresidentÆs first day of marketing coincided with a strong day in the market with the Hang Seng Index gaining 4.1% to 27,626 points. Market watchers also noted that Friday and Monday together made up the first two days of...
¬ 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