Muyuan Foods Nets HK$10.5 Billion From Hong Kong IPO Ahead of Debut

MT Newswires Live02-06

Muyuan Foods (HKG:2714, SHE:002714) raised HK$10.5 billion in net proceeds from its initial public offering in Hong Kong.

The final offer price was set at HK$39.00 per share, according to a Thursday after-market filing with the Hong Kong Stock Exchange.

The pork producer offered 274 million H-shares in the global offering.

The Hong Kong public offer was 5.88 times subscribed, with a final allocation of 27.4 million shares, representing 10% of the total offering.

The international offering was 8.62 times subscribed, with a final allocation of 246.6 million shares, or 90% of the total offering.

An over-allocation of 41.1 million shares was made under the international tranche.

Cornerstone investors, including Charoen Pokphand Foods, Wilmar International, Sinochem Hong Kong, FIL Investment Management (Hong Kong), RBC Global Asset Management, Ping An Asset Management (Hong Kong), Dajia Life Insurance, UBS Asset Management (Singapore), Midea Development (BVI) and Jane Street Asia, were allotted a combined 137 million shares, representing 50% of the global offering, the filing showed.

Muyuan Foods is scheduled to debut on the Hong Kong bourse on Friday, Feb. 6.

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