Home China Chinese Pigs Fly on Lean Budget

Chinese Pigs Fly on Lean Budget

Settling for US$3 billion less, WH Group surges %10 in its HK debut.

Despite failing to raise the intended $5bn in April, the world’s largest pork producer, WH Group—which also bought out U.S. popular meat company Smithfield last year—settled for just over $2bn to cut into its gristly debt as it takes flight entering the Hong Kong Stock Exchange.

As the BBC video news reports:

“Shares in Chinese pork firm WH Group have surged 10% on their debut on the Hong Kong Stock Exchange. Its shares rose to as high as HK$6.86 in early trading on Tuesday, up from the list price of HK$6.20. WH Group, the world’s largest pork firm, raised nearly HK$16bn (US$2.1bn; £1.2bn) via a share sale to help reduce its debt. The listing marks the second attempt by the firm to sell its shares. It cancelled its initial plan to raise up to $5bn in April this year.”

VISION TIMEShttps://www.visiontimes.com
Vision Times is a kaleidoscopic view into the most interesting stories on the web. We also have a special talent for China stories — read About Us to find out why. Vision Times. Fascinating stuff.

Most Popular

Pennsylvania Election Certification Delayed by State Judge

On Nov 2., Patricia McCullough, a Pennsylvania judge, ordered state officials not to verify the results of the 2020 presidential election until her court...

Amid Fraud Allegations, Only 3 Percent of Trump Voters Believe He Lost the Election to Biden

The 2020 U.S. presidential election has engendered a serious perceptive divide over its results, with just 3 percent of Trump voters agreeing that Democratic...

Powell’s Biblical Lawsuits to Begin, Giant Tidal Wave Approaches

The post-election struggle between the Biden and Trump campaigns continues to escalate. As Sidney Powell’s “biblical” lawsuit gradually unfolds, the world is tantalized by...

Why You Should Maintain Good Posture and How to Do It

Posture is the way you hold your body, whether it is while sitting, standing, sleeping, or any other way. A bad posture will have...