China Huishan Dairy Holdings, a vertically integrated Chinese milk producer, on Tuesday launched the institutional bookbuilding for its initial public offering of between HK$8.64 billion and HK$10.11 billion $1.11 billion to $1.30 billion.
It is the largest IPO to hit the Hong Kong market since May when Sinopec Engineering and China Galaxy Securities raised $1.8 billion and $1.1 billion respectively. Those deals remain the two largest listings in Hong Kong so far this year and Huishan Dairy will be a test of investor appetite after the secondary market correction in June and the summer-related slow-down in capital markets activity in August.
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