Tenwow Group, a Shanghai-based food retailer, will on Tuesday begin to pre-market its Hong Kong initial public offering of $100 million-$200 million, which will be the first sizable listing to hit the market since July.
The company has secured strong support from three cornerstone investors, according to two people close to the situation. Carlyle Group, the US private equity firm, Europe-based PE firm Milestone and mainland PE firm Orchid agreed to buy shares worth $47 million, $35 million and $10 million respectively. The cornerstone investments will account for at least 46% of the deal.
The timetable for the IPO was set for September, according to people close...
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