smithfield foods

Bookrunners fail to bring home the bacon after the company decides to pull its Hong Kong listing.

The Chinese pork producer unveiled a slimmed down deal of $1.34 billion to $1.88 billion after a difference of opinion between issuer and investors on pricing.

The Chinese government further reduces red-tape by easing restrictions on outbound investments by local companies.

Bankers have set the price range for Hong Kong's largest IPO in four years and started travelling to meet investors. So far, demand for the pork producer appears robust.

Companies are buying foreign producers of processed and raw foods due to the demands of China’s vast and increasingly affluent population.

A food additive that has been the source of scandals in China is widely used by US pork producers such as Smithfield.