WH Group, the Sino-US pork group formerly known as Shuanghui International, has given roles to 17 banks for a share sale that could raise more than $6bn and be the biggest deal in Hong Kong since 2010.
The group was formed when China’s Shuanghui closed its near-$8bn takeover of Smithfield Foods of the US last year (including debt). Shuanghui has been planning a quick initial public offering since talks with Smithfield became serious, according to people familiar with the group. It hopes to complete the sale in April to refinance a deal debt and allow existing owners to sell.
CDH, one of the China’s longest established private equity funds, owns about a third of the company. Goldman Sachs’ private equity arm, Temasek, the Singapore sovereign wealth fund, and New Horizons, a Chinese private equity group, own small stakes.