Chinese liquor company ZJLD Group Inc. is seeking to raise as much as HK$6.37 billion ($812 million) through an initial public offering that is set to be Hong Kong’s largest this year, reports Bloomberg. The company is offering 490.7 million shares at HK$10.78-HK$12.98 each, according to a statement to the Hong Kong stock exchange. Its first day of trading is slated for April 27.
ZJLD’s listing could boost the city’s tepid IPO market, which has only seen about $860 million raised so far this year, according to data compiled by Bloomberg. The slow activity in the city is in line with other major fundraising venues such as New York and London, as high interest rates and volatile equities trading have kept large issuers on the sidelines.
At the top of the price range, ZJLD’s first-time share sale is poised to be the largest in the Asian financial hub since Sunshine Insurance Group’s $859 million listing in December, according to data compiled by Bloomberg.