HONG KONG: Dairy firm Liaoning Huishan "appoints bankers" for IPO
Chinese dairy giant Liaoning Huishan Holdings (Group) Co. has reportedly appointed three bankers to launch its IPO.
The company is hoping to raise between US$800m and $1bn through the initial public offering, according to the Wall Street Journal. Liaoning is understood to have appointed Deutsche Bank, HSBC Holdings and J.P. Morgan Chase & Co. as sponsors.
The IPO is expected to take place in second half of 2013, sources told the publication.
Founded in 1951, Liaoning Huishan received a $290m capital injection from a group of investors, including Hong Kong tycoon Cheng Yu-tung, in June last year, the publication said.
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