YST offers upstream milk play with HK IPO
YuanShengTai Dairy Farm (YST), the fifth largest company in China's fragmented dairy industry, kicked off premarketing for its IPO on Monday, with bankers working on the deal hoping that strong demand would enable them to shorten the traditional two-week bookbuild, which is tentatively scheduled to begin on November 11. The Hong Kong deal will be up to $400m-equivalent, bankers said.
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