PRC infant formula maker debuts on Hong Kong Stock Exchange
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Candice MakGuangdong-based infant formula company Yashili has raised HK$2.7 billion (US$348 million) through its initial public offering on the Hong Kong Stock Exchange,…
Guangdong-based infant formula company Yashili has raised HK$2.7 billion (US$348 million) through its initial public offering on the Hong Kong Stock Exchange, including a Rule 144A/Regulation S placement to global investors. The joint sponsors and underwriters on the offering were UBS, Bank of America Merrill Lynch and Citic Securities.
The issuer holds a leading position in second-and third-tier Chinese cities, and operates dairy plants in the Guangdong, Heilongjiang, Shanxi and Henan provinces. US private equity firm, Carlyle Group owns a 17.3% stake in Yashili.
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