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| WH Group shares surge 10% on debut | WH Group shares surge 10% on debut |
| (about 7 hours later) | |
| Shares in Chinese pork firm WH Group have surged 10% on their debut on the Hong Kong Stock Exchange. | Shares in Chinese pork firm WH Group have surged 10% on their debut on the Hong Kong Stock Exchange. |
| Its shares rose to as high as HK$6.86 in early trading on Tuesday, up from the list price of HK$6.20. They closed at HK$6.66 apiece, registering a 7.4% jump on their first trading day. | |
| The world's largest pork firm raised nearly HK$16bn ($2.1bn; £1.2bn) via a share sale to help reduce its debt. | The world's largest pork firm raised nearly HK$16bn ($2.1bn; £1.2bn) via a share sale to help reduce its debt. |
| The listing is the second attempt by the firm to sell its shares. | |
| It cancelled its initial plan to raise up to $5bn in April this year. | |
| The company blamed "deteriorating market conditions" and "excessive market volatility" at the time for its decision. | The company blamed "deteriorating market conditions" and "excessive market volatility" at the time for its decision. |
| WH Group took on huge debt when it bought US firm Smithfield Foods last year for $4.7bn (£3.1bn) in cash. | WH Group took on huge debt when it bought US firm Smithfield Foods last year for $4.7bn (£3.1bn) in cash. |
| It was the largest takeover of a US company by a Chinese firm. The acquisition helped it become the world's biggest pork company. | It was the largest takeover of a US company by a Chinese firm. The acquisition helped it become the world's biggest pork company. |
| WH Group was previously known as Shuanghui International Holdings. It changed its name earlier this year. | WH Group was previously known as Shuanghui International Holdings. It changed its name earlier this year. |