Chinese health food provider Ruinian International Ltd. said Monday it is seeking to raise up to US$170 million, including overallotment, in a Hong Kong initial public offering.
In the base deal, the company, which sells amino acid tablets and herbal tea, is selling 300 million shares at a maximum price of HK$3.78 to raise US$145 million, it said in a statement to the Hong Kong stock exchange.
It has an option to sell an extra 50 million shares to raise a total US$170 million. Ruinian is scheduled to list on the Hong Kong bourse on Jan. 19. HSBC Holding Ltd. is the sole bookrunner of the deal.
