want-want-to-kick-off-hong-kong-listing

Want Want to kick off Hong Kong listing

The company, which delisted from the Singapore stock market last year, has signed up eight cornerstone investors to help it raise up to $1.4 billion.

Anette Jönsson

March 03, 2008

Want Want China Holdings has decided to go ahead with an initial public offering of up to $1.4 billion in Hong Kong, which aims to re-list the snack food producer only six months after the chairman took it private.

Previously listed in Singapore, the companyÆs core food and beverage operations were viewed to be trading below potential as the non-core hospital and hotel operations were loss-making and dragging down its overall valuation. After buying out the minority shareholders, chairman and CEO Tsai Eng-Meng, restructured the company by stripping out the non-core assets and repackaged it as a pure China-focused food and beverage business. The decision to list in Hong Kong this time was made in...

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