Business Maverick: Billionaire Rides Cooking Oil Dominance to Record China IPO

has been a staple of Chinese kitchens for decades and fueled demand 3,499 times the amount of shares offered to retail investors online.After starting production in 1991 from the mainland’s first packed oil production line, the unit of Kuok’s Wilmar International Ltd. now has 40% of a Chinese edible oil market that consumes almost 40 million tons annually.

The share sale surpassed CGN Power Co.’s 12.6 billion yuan listing in 2019 to be the largest IPO ever in Shenzhen, according to data compiled by Bloomberg. The IPO appealed to the mainland’s individual retailers with a promise to share profits with the Chinese people and contribute to the economy of its homeland.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Business Maverick: Tencent-Backed Retailer Miniso Raises $608 Million in US IPOMiniso Group Holding Ltd., the Chinese budget household and consumer goods retailer, raised $608 million in a U.S. initial public offering priced above a marketed range.
Source: dailymaverick - 🏆 3. / 84 Read more »

Business Maverick: Crypto M&A Surges Past 2019 Total as Rest of World Eclipses USDeal value in the cryptocurrency world surpassed the total from 2019 in the first six months of the year as tie-ups became less frequent but bigger, according to PwC.
Source: dailymaverick - 🏆 3. / 84 Read more »