Exclusive | Shuanghui could soon salve Hong Kong bourse's wounds with its IPO

Still licking its wounds from the loss of Alibaba's planned US$15 billion initial public offering, the Hong Kong stock exchange may find some consolation in the imminent listing of Shuanghui International, likely to be the city's biggest this year.

The mainland's largest meat processor, best known for its branded ham and sausage products, was scheduled to apply on Thursday for a listing in the city, three people familiar with its plans said.

If successful, Shuanghui, which will be listed under the new name of WH Group, aims to raise about US$6 billion on the Hong Kong exchange, the world's No2 destination for flotations after New York by capital raised last year.

WH Group is a holding company for all of Shuanghui's assets, including Smithfield Foods, acquired last year, and Shenzhen-listed Henan Shuanghui Investment & Development.

"It's of course a very big deal for the Hong Kong market, especially now that Alibaba is going to New York. If Shuanghui can do well, it will also give market sentiment in Hong Kong a strong boost," said a banker, who declined to be named.

After its listing hearing on Thursday, the company planned to launch its roadshow early next month and get listed on the main board by the end of April or in early May, the people familiar with the plan said.