Deals
China Feihe Raises $856 Million in Hong Kong IPO
- Shares priced at HK$7.50 each, low end of a marketed range
- Feihe is scheduled to start trading in Hong Kong on Nov. 13
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China Feihe Ltd., a baby formula producer, raised HK$6.7 billion ($856 million) after pricing its Hong Kong initial public offering at the bottom of its marketed range, people familiar with the matter said.
The Beijing-based company sold 893.3 million shares at HK$7.50 each, the people said, asking not to be identified as the information is private. Shares had been offered at HK$7.50 to HK$10 apiece, implying a market value of $8.5 billion to $11.4 billion.