新股消息 | 牧原食品(02714)孖展认购录得18.4亿港元 超购0.7倍 一手入场费393...

Core Viewpoint - Muyuan Foods is set to issue 270 million H-shares with a maximum fundraising target of HKD 10.68 billion, reflecting strong investor interest with an oversubscription of 0.7 times as of February 2, 2023 [1][2] Group 1: Company Overview - Muyuan Foods is a leader in the pig farming industry, employing a vertically integrated business model that covers the entire pig production chain, including breeding, farming, feed production, and slaughtering [1] - According to Frost & Sullivan, since 2021, Muyuan Foods has been the largest pig farming enterprise globally in terms of production capacity and output, maintaining the highest pig output for four consecutive years [1] - The company's global market share in pig output is projected to grow from 2.6% in 2021 to 5.6% by 2024, surpassing the combined market share of the second to fourth largest competitors [1] Group 2: Business Expansion - Since 2019, Muyuan Foods has expanded into the pig slaughtering and meat processing business to enhance its operational advantages across the entire industry chain [2] - By 2024, Muyuan Foods is expected to rank fifth globally and first in China in terms of slaughtering and meat processing by the number of heads slaughtered [2] - The revenue compound annual growth rate (CAGR) for the company's slaughtering and meat processing business from 2021 to 2024 is projected to be the highest among large competitors in China [2] Group 3: Investment Agreements - The company has signed cornerstone investment agreements with several notable investors, including Charoen Pokphand Foods, COFCO, and UBS AM Singapore, agreeing to subscribe to shares worth approximately HKD 5.342 billion, subject to certain conditions [2]