China Youran Dairy set to open 10% down in Hong Kong debut

China Youran Dairy

18/06/2021 02:20

HONG KONG, June 18 (Reuters) - Shares of China Youran Dairy
Group Ltd  9858.HK  were set to open at HK$6.28 per share in
their Hong Kong debut on Friday, down 10% from the initial
public offering (IPO) price of HK$6.98 apiece.
    The benchmark Hang Seng Index  .HSI  was set to open 0.1%
up.
    The Chinese raw milk producer, backed by private equity
group PAG, raised $643 million in its Hong Kong IPO, with the 
proceeds to be used to build and buy new dairy farms, to buy
dairy cattle stock and for working capital.  urn:newsml:reuters.com:*:nL2N2NT02Q

 (Reporting by Donny Kwok; Editing by Muralikumar Anantharaman)
 ((donny.kwok@thomsonreuters.com; +852 2843 6470; Reuters
Messaging: donny.kwok.reuters.com@reuters.net))