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WH GROUP RAISES $2 BILLION IN SECOND IPO ATTEMPT
Feedstuffs reports:

WH Group Limited, the world's largest pork company, in a second attempt raised $2.05 billion in an Hong Kong initial public offering ending last Tuesday.

Last April, WH Group was anticipating to raise $5 billion but withdrew due to lack of interest from investors. The new pricing strategy represented 11.5 times forward 2014 earning, rather than 15-20.8 times.

According to the company, 2.57 billion shares at fixed price of HK$6.20 per share, or US 80 cents. The company intends to use the net proceeds of the global offering for partially repaying debit occurred by acquiring Smithfield Foods, Inc. last year.

Moreover, WH Group has an option to sell additional shares after listing. The company plans to list on the Hong Kong Stock Exchange on Aug. 5, according to information presented to potential investors.


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