October 9, 2007

Yurun Foods seek US$222 million selling shares

Yurun Food Group, the biggest hog processor in China, is seeking as much as HK$1.73 billion ($222 million) in selling its shares, reports the Bloomberg.

Yurun and Willie Holdings, controlled by Yurun Chairman Zhu Yicai, are selling a combined 150 million shares at HK$11.15 to HK$11.50 each. Half the stock on offer is new shares offered by the company, with the rest existing shares owned by Willie, according to Bloomberg.

Goldman Sachs Group Inc. and UBS AG are arranging the sale.

Willie was Yurun's largest shareholder with 52 percent of the company's shares at the end of June, according to an interim report.

Yurun's Hong Kong-listed stock surged 80 percent in the year through yesterday (October 8), compared with the 56 percent gain of Hong Kong's Hang Seng Index.