Pulled pork: WH Group scraps IPO

WH Group has scrapped its revised Hong Kong listing after the Chinese pork giant was unable to get the valuation it wanted, having hoped to raise up to $1.9 billion from the share sale.

The company's original proposal would have potentially raised $7.2 billion, making it the biggest initial public offering of shares in Asia since AIA’s $20 billion flotation in 2010. But the size of the deal was slashed last week after WH Group refused to accept pricing at the bottom end of its indicative range.

The pork group had hoped a smaller deal size would enable it to get a better share price that...