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Investing.com-- China’s Foshan Haitian Flavouring and Food Co Ltd (SS:603288), China’s leading condiment maker, is set to raise up to HK$9.56 billion (about US$1.22 billion) in its secondary listing on the Hong Kong Stock Exchange, according to a filing.
The firm is offering 263.2 million shares for a maximum offer price of HK$36.30 per share.
The Shanghai-listed company, which commands the number‑one market share in soy and oyster sauces in China, launched its bookbuilding process ahead of a June 19 listing date. Foshan Haitian, established through the merger of 25 regional sauce factories in 1955, operates in a defensive consumer staples sector with recession‑resistant demand.
The listing marks another milestone in Hong Kong’s recently revived IPO market, following major offerings from Contemporary Amperex Technology Co Ltd (CATL) (HK:3750) and Jiangsu Hengrui Pharmaceuticals (HK:1276).
Funds raised from Foshan Haitian’s Hong Kong debut are expected to support expansion beyond its domestic stronghold, tapping into Southeast Asian and global condiment markets during a strategic capital‐market window.