Davis Polk & Wardwell and Tian Yuan Law Firm are advising China’s Youran Dairy on its planned IPO in Hong Kong, with Sidley Austin and Dentons advising the joint underwriters.

The IPO is expected to raise around $643 million, Reuters reported.

Established in 2007, Youran Dairy is headquartered in Inner Mongolia. According to Reuters, it is backed by private equity firm PAG, and was spun off from Inner Mongolia Yili Industrial Group. Youran bought two farming hubs in Ying and Yutian counties last year for $369 million from New Zealand's Fonterra.

Ogier is advising the issuer on offshore matters. The joint underwriters are Huatai International and Credit Suisse.


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