China’s largest pig breeder, Muyuan Foods, has priced its Hong Kong initial public offering at the top of its range, targeting proceeds of approximately HK$10.69 billion (US$1.37 billion).
The company is offering 274 million H shares at HK$39 per share, positioning the transaction as one of the largest IPOs in Hong Kong so far this year. Allocation results are expected to be announced on February 5, with shares scheduled to begin trading on February 6 on the Hong Kong Exchange, according to regulatory filings.
The listing comes as China’s pork industry continues to face pressure from oversupply and weak demand, conditions that have weighed on hog prices and tightened margins for producers across the country. Despite the challenging market backdrop, the deal highlights investor confidence in large-scale, vertically integrated pork operations with a strong focus on efficiency and technology.
Muyuan said proceeds from the share sale will be used to support research and development, including investments in breeding programs, smart farming technologies, nutrition management, and biosecurity—areas seen as critical to improving productivity and resilience in modern pork production.
($1 = 7.8109 Hong Kong dollars)
