Dali Foods Group Co Ltd, a Chinese mainland snack and beverage producer, is planning to raise HK$10.4 billion ($1.34 billion) through an initial public offering in Hong Kong on Nov 20. The company, which sells “Daliyuan” cakes and “Copico” brand potato chips, is issuing 1.69 billion shares at HK$5 to HK$6.15 each. Following the IPO, its market value is expected to reach HK$84.2 billion. Xu Shihui, founder and chairman of Dali Group, currently owns 85 percent of the shares in the company. The IPO is expected to boost his personal wealth to about HK$71.6 billion…Full Article: China Daily Nov 2015
- From 2013 to 2014, Dali Food’s revenue increased 16% to CNY 14.9 billion (US$2.3 billion).
- The companies of Arisaig Partners (Singaporean investment management), JIC Dessert Laboratory Ltd (Central Huijin Investment affiliated company), and Longbow Securities Ltd will invest millions in the Dail Foods IPO.
- Founded in 1989 and headquartered in Quanzhou, Fujian province, Dali Foods Group Co Ltd is a snack and beverage company. Its products include potato chips, cookies, cake, tea, energy drinks, and peanut milk. In November 2015, the company was listed on the Hong Kong Stock Exchange.