China’s WH Group opened 10 percent higher than expected on its first trading day in Hong Kong.
The world’s largest pork producer raised over $2 billion on its second attempt to raise capital in the harbor city.
WH Group gains as biggest pork producer debuts in Hong KongChina's WH Group opened 10 percent higher on its first trading day in Hong Kong. The world's largest pork producer raised over two billion dollars on its second attempt to raise capital in the harbor city.
The world’s biggest pork producer finally listed in Hong Kong after a failed attempt three months ago. The Chinese company that made headlines with its landmark purchase of U.S. based Smithfield Foods last year, came back to the market with a smaller and cheaper offering. It also cut the number of underwriters from over 20 to two.
From the initial $5 billion offering, WH Group settled to raise less than half its original offering at just over $2 billion.