WH Group lowers HK IPO pricing

China's WH Group, the world's biggest pork company, will likely price its Hong Kong initial public offering near the bottom of expectations, Reuters reported on Monday, citing a IFR finding.

Hit by weak investor demand, WH slashed the size of the IPO last week by two-thirds to up to $1.9 billion.

IFR, a Thomson Reuters publication, provided guidance to prospective investors in the deal.

The report said the revised deal had a "well oversubscribed" book and will likely be priced at the bottom of the HK$8.00-$11.25 ($1.03 - 1.45)per share range.