Baijiu ‘godfather’ launches year’s largest IPO in Hong Kong

CHINA’S “godfather of baijiu” launched Hong Kong’s largest initial public offering of the year today, with the holding company for four of his liquor brands raising around HK$4.5 billion (RM2.55 billion) despite a rocky start to trading.

Wu Xiangdong, founder and chairman of ZJLD Group, earned the godfather moniker after establishing an empire of 12 companies specialising in the fiery tipple.