Pork giant WH Group jumps in HK debut after failed first launch

Investors, who had shunned an earlier deal in which WH Group sought up to US$5.3bil, snapped up the company's shares at its second attempt at an IPO after its slashed valuations to raise US$2.1bil.

HONG KONG: WH Group Ltd, the world's biggest pork company, jumped as much as 11% in its Hong Kong trading debut on Tuesday after pulling off its second attempt at an IPO by slashing valuations to raise US$2.1bil.

Investors had shunned an earlier deal in which WH Group sought up to US$5.3bil – put off by high valuations, sky-high executive compensation and mismanaged marketing following the record hiring of 29 banks.