China Huishan Dairy Holdings has raised HK$10.11 billion $1.3 billion from its initial public offering after fixing the price at the top of the indicated range. The vertically integrated milk producer will start trading on the Hong Kong stock exchange on September 27.
The deal is the second largest IPO in Hong Kong this year after Sinopec Engineering’s $1.8 billion offering in May and benefited from a more favourable view towards China and Chinese equities in recent weeks. Sources said the institutional order book was multiple times covered across the price range and noted that the company missed out on only a handful of accounts by pricing at the...
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