Snack maker Liwayway Holdings Co. is reportedly planning to list on the Hong Kong stock exchange, in an initial public offering that could raise as much as US$200m.
According to a report by Bloomberg citing people with knowledge of the matter, the Oishi owner has hired banks for a share sale next year. It has not yet filed a listing application with the stock market, sources added,
Liwayway sells more than 100 snack and confectionery lines in China. It has plants in Chinese cities including Harbin, Suzhou and Kumming, as well as manufacturing bases in Thailand and Indonesia. The business is owned by Filipino-Chinese businessman Carlos Chan.
In September last year, Chinese biscuit firm Jiashili listed on the Hong Kong stock market after raising HK$370m (US$48m). Advising law firm Eversheds said the public offering had been over-subscribed by approximately 28 times.