WH Group, the Chinese pork producer that pulled its high-profile $5 billion initial public offering earlier this year, raised $2.05 billion in a re-launched deal, buoyed by rallying Asian stock markets.
The pork producer sold 2.56 billion shares at a fixed price of HK$6.20 per unit, people familiar with the situation said on Tuesday night.
WH Group’s re-launched deal was offered at a cheaper valuation, with the fixed price putting the company’s forward pe at 11.5 times 2014 earnings, much more attractive than the 15 to 20.8 times 2014 earnings marketed in the first attempt.
Institutional investors were keen to snatch up...
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