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.
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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.
