China Minzhong Food Corporation, the integrated vegetables processor based in Fujian province in China, says at the close of the public offer on April 13 at 12 noon, 3,859 valid applications were received for the 9,867,000 shares under the public offer.

In total, 102,427,000 shares were applied for with $123 million in application money received.

The placement tranche has also drawn strong interest from institutional investors with participation from global international funds. The IPO also attracted Prudential Asset Management (Singapore) and Fidelity International as cornerstone investors.

The gross proceeds raised from the offering are about $237 million. If the over-allotment option is fully exercised by J.P. Morgan, the offering will raise gross proceeds of $272 million.

China Minzhong will be traded from tomorrow.