China's Tianli Agritech details estimated IPO terms

Hog producer, Tianli Agritech Inc. unveiled pricing details of its planned initial public offering in a filing with the US Securities and Exchange Commission (SEC).

The company, which raises, breeds and sells hogs in China for breeding and meat purposes, anticipates the sale of 1.7-2 million shares at a price of US$5-$7 each. The company in March had filed with the SEC to sell up to an estimated US$12 million of stock.

Proceeds from the offer will be use to build or buy hog farms to increase capacity, as well as to buy hogs and establish retail shops in Wuhan, China.

Tianli's sales jumped 74% in 2009 from a year earlier as its profit nearly doubled.