WH Group, the Sino-US pork group formerly known as Shuanghui International, has set a record for the number of banks employed to sell a new listing with 28 involved in its $6bn initial public offering.
The group, formed when China’s Shuanghui closed its near $8bn takeover of Smithfield Foods of the US last year, had handed roles to 17 banks in early February and has added 11 more as it gets closer to the sale.
The WH Group IPO will be the biggest deal in Hong Kong since AIA’s $20bn listing in 2010 and will probably be the largest the market will see this year after several high-profile ones chose different options.
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