By P.R. Venkat

WH Group Ltd.'s Shenzhen-listed unit is planning to raise up to 7 billion yuan (US$985.6 million) through a non-public issuance of A shares.

The unit, Henan Shuanghui Investment & Development Co., will issue 331.93 million shares to no more than 35 subscribers, WH Group said late Sunday.

The shares will be sold to securities investment fund management companies, finance companies, insurance institutional investors and qualified foreign institutional investors, it said.

Shuanghui Investment & Development is in the business of livestock breeding, livestock slaughtering, and the manufacture and sales of packaging materials and meat products.

Proceeds from the share sale will be used by the company to expand its business including the ramping up its production capacity. 



  Write to P.R. Venkat at venkat.pr@wsj.com