Chinese biscuit firm Jiashili has listed on the Hong Kong stock market.

Announced yesterday (25 September) by its advising law firm Eversheds, the firm raised HK$370m (US$48m), approximately 25% of Jiashili’s total issued share capital.

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Eversheds said the public offering had been over-subscribed by approximately 28 times.

Stephen Mok, a partner at Eversheds, said: “This IPO demonstrates the appetite in the market for strong and successful companies”.

In the year ended December 31 2013, Jiashili posted revenues of HK$747m compared with HK$649m for the same period a year earlier. Profit was also up to HK$82m compared with HK$54.5m for the same period a year earlier.

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