Cleary Gottlieb Steen & Hamilton advised Chinese snack-food and beverage company Dali Food Group Company Ltd. on its $1.5 billion initial public offering in Hong Kong.
Dali Foods, maker of cookies, cakes, herbal teas and plant-based milks, sold 1.7 billion shares at $0.68 each. In a statement, the company said it would use the money to develop new products, boost its manufacturing capacity and to fund future acquisitions.
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