Chinese liquor maker ZJLD to start taking orders for US$900 million Hong Kong IPO soon, sources say
- ZJLD Group’s IPO would be the largest in Hong Kong since electric-vehicle battery maker CALB’s US$1.3 billion listing in October
- Fundraising in Hong Kong has slowed down this year, with only US$860 million raised so far this year, according to Bloomberg
The company is looking to raise US$800 million to US$900 million in the first-time share sale, said the people, asking not to be identified as the information is private. Deliberations are ongoing and details of the offering such as the fundraising amount and timing could still change, the people said.
ZJLD has been working with advisers since last year on its Hong Kong listing, Bloomberg News reported in November. At that time, sources said the offering may raise US$300 million to US$400 million. The company first filed for the IPO in January and submitted post-hearing documents last month, indicating the city’s stock exchange has given its approval. Goldman Sachs and China Securities International are the sponsors, its prospectus shows.
A representative for ZJLD did not immediately respond to requests for comment.
