Japan's Nissin Foods noodle unit plans HK$1.13b IPO in Hong Kong

[HONG KONG] Nissin Foods, an instant noodle unit of Japan's Nissin Foods Holdings, said on Wednesday it aims to raise up to HK$1.13 billion (S$195.2 million) in an initial public offering of shares in Hong Kong.

Nissin Foods Co plans to offer 268.58 million shares in the IPO, of which 10 per cent will be earmarked for retail investors, at an indicative range of HK$3.45 to HK$4.21 apiece, the company said in a filing on Wednesday.

The final offer price will be announced on Dec 8 and trade in the shares is expected to begin on Dec 11.

REUTERS