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3799 - Dali Foods Co News Story

HK$4.14 -0.3  -7.2%

Last Trade - 28/01/22

Consumer Defensives
Large Cap
Market Cap £5.44bn
Enterprise Value £3.84bn
Revenue £2.59bn
Position in Universe 278th / 6223

Chinese snack maker Dali Foods prices HK IPO at lower end, raises $1.14 bln-IFR

Sat 14th November, 2015 9:49am
HONG KONG, Nov 14 (Reuters) - Chinese snacks and 
beverages-maker Dali Foods Group Company Ltd raised HK$8.87 
billion ($1.14 billion) after pricing its Hong Kong initial 
public offering at the lower end of the expected price range, 
IFR reported on Saturday, in a deal that will fund potential 
acquisitions and product development.  
    The company priced the 1.69 billion new shares, equivalent 
to about 12 percent of the enlarged share capital, at HK$5.25 
each, after marketing the deal at an indicative range of HK$5.00 
to HK$6.15, said Thomson Reuters publication IFR citing people 
familiar with the deal. 
    A Hong Kong spokeswoman for Dali Foods was not immediately 
available to comment over the weekend.  
    The IPO comes on the back of several large offerings in Asia 
in recent weeks, underscoring an upswing in equity activity that 
investment bankers are counting on to boost revenue in the 
region by the end of the year.  urn:newsml:reuters.com:*:nL3N12S34I 
    Deal activity has been particularly brisk in Hong Kong, with 
distressed debt manager China Huarong Asset Management Co 
 2799.HK  raising $2.3 billion in an IPO and China Reinsurance 
(Group)  1508.HK  tapping markets for $2 billion late last 
month. China Energy Engineering Corp Ltd won approval for its up 
to $2 billion listing and expects to start pitching the deal to 
investors on Monday, IFR reported.  urn:newsml:reuters.com:*:nL3N1382RY     
    Bank of America Merrill Lynch and Morgan Stanley were hired 
as joint sponsors and joint global coordinators of the Dali 
Foods IPO. The banks stand to jointly earn up to $26.2 million 
in fees from the deal, equivalent to a 1.5 percent underwriting 
fee and a 0.8 percent incentive fee, according to the offering 
 (Reporting by Elzio Barreto; Editing by Shri Navaratnam) 
 ((elzio.barreto@thomsonreuters.com;)(852)(2843-1608; Reuters 
Messaging: elzio.barreto.thomsonreuters.com@reuters.net)) 
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