milk

The Chinese raw milk producer raises $426 million at a valuation of 17 times forward earnings, while investors look ahead to the larger offerings from Cinda Asset Management and Qinhuangdao Port due next week.

Hospital operator Phoenix Healthcare will be the latest addition to a long line of listing hopefuls in Hong Kong when it kicks off an IPO of up to $191 million on Thursday.

Founding shareholders sell a 5.2% stake after the share price jumps 80% in three months, and investors are keen to buy.

Private equity firm Affinity Equity Partners acquires a 40% stake in a Chinese dairy business, giving it a share of the biggest milk supplier to Beijing.

The milk producer attracts strong demand from both retail and institutional investors, setting a positive trend for other IPOs in the pipeline.

The Chinese milk producer has the support of three cornerstone investors and people close to the situation say the deal was covered on day one.

The Dutch dairy multinational is to purchase a controlling stake in the Philippines’ Alaska Milk Corporation for $400 million.

Modern Dairy’s $571 million IPO is fully covered already, despite the fact that two recently listed Chinese milk companies are trading at least 12% below their IPO prices.

Yashili, whose products were found to be contaminated with melamine in 2008, is looking to raise up to $398 million from a Hong Kong public offering.