Slaughter and May advised on the Hong Kong IPO of Dekon Food and Agriculture Group

Slaughter and May, Hong Kong and Beijing, advised Dekon Food and Agriculture Group (“Dekon”) on its global offering and listing on the Main Board of the Hong Kong Stock Exchange, raising approximately HK$994 million (approximately US$127 million) for the issue of 6.92% of Dekon’s issued share capital immediately after the completion of the global offering and the conversion of domestic shares into H shares. China International Capital Corporation Hong Kong Securities Limited and Citigroup Global Markets Asia Limited acted as joint sponsors, overall coordinators, joint global coordinators, joint bookrunners and joint lead managers.

Dekon is a rapidly growing livestock and poultry breeding and farming enterprise in China, focusing on the breeding and farming of pigs and yellow-feathered broilers. Dekon ranked sixth among all pig suppliers in China in terms of sales volume of pigs and ranked third among all yellow-feathered broiler suppliers in China in terms of sales volume of yellow-feathered broilers for 2022, according to Frost & Sullivan.

Dekon is the first batch of companies adopting the Fast Interface for New Issuance (FINI), which is a new digital platform for initial public offering launched by the Hong Kong Stock Exchange. FINI will shorten the settlement cycle from five business days (T+5) to two business days (T+2), giving investors quicker access to new listings. 

Dealings in the shares of Dekon commenced on the Hong Kong Stock Exchange on 6 December 2023.