Dali Foods raises US$1.15bil in Hong Kong IPO

HONG KONG: Dali Foods Group Co, a Chinese snack and beverage producer, raises US$1.15bil from an initial public offering in Hong Kong, selling the shares near the low end of a marketed range, people with knowledge of the matter said.

The maker of “Daliyuan” cakes and “Copico” brand potato chips priced 1.69 billion shares at HK$5.25 (US$0.68) each, said the people, who asked not to be identified because the information is private. The stock was marketed at HK$5 to HK$6.15 each, according to Dali’s prospectus.