CHINA’S WH Group Ltd., the world’s biggest pork company, has decided to stop taking orders from institutional investors for its US$2.05 billion Hong Kong initial public offering (IPO) ahead of time because of strong demand for the deal, IFR reported yesterday, citing a source with knowledge of the plans.

    WH Group will close the institutional books Friday, four days ahead of schedule, added IFR. Orders from retail investors will start today and will run until July 29, IFR said.

    A WH Group spokesman in Hong Kong declined to comment on the decision to close the institutional books early.

    WH Group is seeking funds to repay part of the debt it took on to pay for last year’s US$7.1 billion purchase of U.S. pork producer Smithfield International.

    The company pulled an earlier offer, which it had hoped would raise up to US$5.3 billion, in April after investors balked at the high valuation.

    The IPO also floundered because the 29 banks — a record number — hired to manage the offer also sent confusing signals to institutional investors, while the negative publicity surrounding sky-high executive compensation raised corporate governance issues. (SD-Agencies)