Want Want China Holdings Limited has announced that the company will be listed in Hong Kong and will start an initial public offering on March 26.
According to the documents released by Want Want, the company plans to issue 2.7 billion new shares, of which 90% will be internationally placing and 10% will be for the public offering. The share price will range from HK$3 to HK$4.1 and Want Want China is expected to raise about HK$7.894 billion from those shares.
Want Want China has announced its plan for a large-scale investment after being listed. It will invest about HK$880 million to enlarge its production capacity and about HK$120 to increase packaging materials production facilities. In addition, HK$338 million will be used to improve the company's sales and distribution networks. At present, Want Want China has 308 business venues and more than 15,000 dealers.
Want Want China is one of the leading companies in China's snack food industry. It entered Mainland China market in 1992 and opened its first factory in Hunan Province in 1994. Its products include rice crackers, dairy beverages, jellies and candies.