China Shengmu Completes Its USD $136 Million IPO and Listing on the Hong Kong Stock Exchange
On July 15, 2014, China Shengmu, a leading organic milk company in China, completed its HK $1,063 million (approximately US $136 million) IPO on the Main Board of the Stock Exchange of Hong Kong, with market capitalization of HK $15,187 million (approximately US$1,947 million) upon listing. A total of 444,800,000 shares (before the exercise of the over-allotment option) were issued and priced at HK $2.39 each. Pre-IPO investors include Baring, Goldman Sachs, and Sequoia Capital China. Wilson Sonsini Goodrich & Rosati acted as the U.S. and Hong Kong counsel to China Shengmu in connection with the pre-IPO investment and the IPO.