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

Key Point

  • 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.

ChinaAg Comment

  • 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.

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