Clifford Chance, Enolil Loo Advocates & Solicitors, and Albar & Partners have advised Malaysian poultry producer Leong Hup International (LHI) on its $247 million initial public offering (IPO) on Bursa Malaysia, the country's largest offering in almost two years. 

Baker McKenzie Wong & Leow and Kadir Andri & Partners represented the joint global coordinators, joint bookrunners, managing underwriter and joint underwriters.

Leong Hup is to be one of the largest integrated poultry, egg and livestock feed producers in Southeast Asia, with businesses in Malaysia, Singapore, Indonesia, Vietnam and the Philippines. It is majority-owned by the founding Lau family and backed by private-equity firm Affinity Equity Partners, both of whom remain as shareholders.

According to Reuters, Leong Hup is exploring opportunities to set up operations in Cambodia, where it already exports feed and chicks to from its Vietnamese operation. 

The initial target was to raise $600 million from the IPO but the offer size was cut last month as investor demand softened in a choppy market, Reuters added.

The Clifford Chance team was led by partners Johannes Juette and Raymond Tong. 

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