February 2, 2026

 

Muyuan looks to raise up to US$1.37 billion through Hong Kong listing

 

 

China's biggest pig breeder, Muyuan Foods, is seeking to raise up to HK$10.68 billion (US$1.37 billion) through a Hong Kong listing, according to an exchange filing on January 29.

 

The company, already listed on China's Shenzhen bourse, is offering 274 million shares at an offer price capped at HK$39 (US$5.00) per share.

 

Final pricing is slated for February 5, with shares set to debut on the Hong Kong exchange the following day.

 

Cornerstone shareholders led by Thailand's Charoen Pokphand Foods and Singapore's Wilmar International will buy about US$684.45 million worth of shares, accounting for nearly half of the transaction, the filings showed.

 

In April 2025, Muyuan said it was pursuing a Hong Kong listing to deepen its globalisation strategy.

 

The filing said the share sale proceeds will be used to invest in research and development across areas such as breeding, smart farming, nutrition management and biosecurity, as well as for working capital and general corporate purposes.

 

Muyuan's offering would add to Hong Kong's pipeline of mainland Chinese listings in the city, alongside deals such as snack retailer Busy Ming, which saw shares jump 69% in its trading debut on January 28.

 

Hong Kong topped global IPO fundraising in 2025, with companies raising about US$37.2 billion from 115 new listings, according to LSEG data.

 

The listing comes after Muyuan in 2023 terminated plans to issue global depositary receipts in Switzerland, citing changes in external and internal conditions, according to a filing at the time.

 

- Reuters