Ramen IPO may be worth slurping up
01/12/2017 03:43
(The author is a Reuters Breakingviews columnist. The opinions
expressed are his own.)
By Alec Macfarlane
HONG KONG, Dec 1 (Reuters Breakingviews) - Japan's Nissin is
taking public its Greater China business at a valuation of about
HK$4.1 bln, or $525 mln. Broader demand is falling, but the
company is tapping into millennial interest in posher packaged
carbs. Compared to where rivals trade, these noodles could be
tasty.
Full view will be published shortly.
On Twitter https://twitter.com/AlecMac11
CONTEXT NEWS
- Japanese cup-noodle maker Nissin Foods has launched a Hong
Kong initial public offering of its China and Hong Kong
business, the company said in a stock-exchange filing on Nov.
29.
- Nissin is offering 268.58 million shares in the IPO at an
indicative price range of HK$3.45 to HK$4.21 each, of which 10
percent will be offered to retail investors, the filing said.
Nissin aims to raise up to HK$1.1 billion ($145 million) from
the IPO.
- The final offer price will be announced on Dec. 8 and
shares will begin trading on Dec. 11. Nomura is the sole sponsor
and sole global coordinator on the IPO, as well as joint
bookrunner with Mizuho.
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Japan's Nissin Foods noodle unit plans $145 million IPO in Hong
Kong urn:newsml:reuters.com:*:nL3N1NZ1KV
Hong Kong stock exchange filing http://www.hkexnews.hk/listedco/listconews/sehk/2017/1129/LTN20171129015.pdf
BREAKINGVIEWS - China's noodle master has to get nimbler
urn:newsml:reuters.com:*:nL4N1IP15E
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(Editing by Jeffrey Goldfarb and Katrina Hamlin)
((alec.macfarlane@thomsonreuters.com; Reuters Messaging:
alec.macfarlane.thomsonreuters.com@reuters.net))
Keywords: NISSIN FOODS CO IPO/BREAKINGVIEWS