yashili

Modern Dairy’s $571 million IPO is fully covered already, despite the fact that two recently listed Chinese milk companies are trading at least 12% below their IPO prices.

The Shanghai-based luxury property developer kicks off its institutional roadshow, while Chinese baby formula producer Yashili International raises $349 million ahead of its Hong Kong listing.

Yashili, whose products were found to be contaminated with melamine in 2008, is looking to raise up to $398 million from a Hong Kong public offering.