WH Group enjoyed a solid first day of trading in Hong Kong, bringing an end to the on-off listing saga of the world’s biggest producer of pork.
Shares in the Sino-US company rose as much as 10 per cent in early trading yesterday before finishing the day with a gain of 7.4 per cent.
The Henan-based company is the product of last year’s $7bn takeover of Smithfield Foods by China’s Shuanghui International, the two largest players in their respective markets. WH Group also holds more than a third of Campofrio, the European meat producer.
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