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Note: China Minzhong Food priced a S$237m ($170m) initial public offering on Wednesday, reopening the Singaporean market with the biggest Chinese listing in two years.
Minzhong is to sell 197.34m shares at S$1.20 a share, in the middle of its S$1.07-S$1.33 target range, in a deal that will give it a market capitalisation of S$645m.
Minzhong reopened a funding channel for Chinese companies that had been slammed shut by a series of defaults and accounting scandals among the so-called 'S'-Chips, (Chinese companies listed in Singapore).
It is also the exchange's second big IPO of the week, following Cache Logistics Trust, which reopened the equity markets for real estate investment trusts as it priced its S$417m ($299m) offer last Thursday (April 1).
Minzhong offered 119.6m new shares, while existing shareholders sold 77.7m secondary shares. Olympus Capital, Government of Singapore Investment Corp, CMIA Capital and OCBC Capital are reducing their stakes but will remain shareholders.
The price values Minzhong at around...