Sources told Bloomberg that China Huishan Dairy Holdings Co would be filing for a Hong Kong USD 1.3 billion initial public offering (IPO). The two people who have knowledge of the planned IPO revealed that the dairy firm intends to offer 3.8 billion shares. The shares would be priced at HKD 2.28 to HK 2.67 each.

The sources spoke on the condition of anonymity since the plan was not yet to be made public. They said that Huishan Dairy would begin trading on September 27 but would start getting orders within the week.

Data gathered by Bloomberg showed that the planned IPO of Huishan Dairy would be biggest since May. In May, Sinopec Engineering Group Co was able to raise USD 1.8 billion.

Bloomberg furthered revealed that initial public offerings in Hong Kong had allowed firms to raise USD 5.9 billion this year. This was more than twice the proceeds last year.

An external spokeswoman for Huishan Dairy could not immediately confirm the report.