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ecns
WH Group pulls HK IPO
http://www.ecns.cn/business/2014/04-30/111846.shtml
Apr 30th 2014, 01:22
2014-04-30 10:22 Global Times
China's WH Group, the world's biggest pork company, pwostponed its planned Hong Kong IPO, underscoring weak demand for the deal even after the company slashed the offer's size and reduced the valuation, people with direct knowledge of the matter said on Tuesday.
WH Group postponed the deal without setting a new timetable, effectively pulling the deal in its current shape, added the people who declined to be named as they were not authorized to speak publicly on the matter.
Company officials were not immediately available for comment.
WH Group, whose products include Smithfield ham and Farmland bacon in the US, offered 1.3 billion new shares in a revised deal valued at up to HK$14.61 billion ($1.9 billion).
It had marketed the IPO in an indicative range of HK$8.00 to HK$11.25 per share.
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