Thai conglomerate Charoen Pokphand Group is planning to invest in the Hong Kong listing of Chinese mainland pig breeder Muyuan Foods Co, according to people familiar with the matter, boosting what’s shaping up as the biggest deal yet among a rush of share sales in the city at the start of the new year.

CP Group is poised to participate as a cornerstone investor — which get guaranteed allocation in a deal in exchange for holding the shares for a period of time — in the listing, the people said, asking not to be identified to discuss a private matter. Other potential cornerstone investors include investment firm Fidelity International Ltd and UBS Group AG’s asset-management arm, the people added.

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Muyuan, one of the world’s biggest pig breeders and pork producers, is set to start taking investor orders as early as Thursday for a listing that may raise about $1.5 billion, the people said.

Deliberations are ongoing, and details of the deal may still change. Representatives for Muyuan, CP Group, Fidelity and UBS declined to comment.

The Henan-based firm is among a crop of mainland companies in the consumer industry that are planning to sell shares in the Hong Kong Special Administrative Region. Energy-drink maker Eastroc Beverage Group Co is close to debuting in the city, while snack retailer Busy Ming Group Co saw a first-day pop.

READ MORE: Hong Kong’s sixfold jump in share sales drives boom year in Asia

Hong Kong is also set to close the month with record proceeds raised for any January from share listings. The city currently has more than 350 companies waiting to sell shares, Hong Kong Exchanges & Clearing Ltd Chief Executive Officer Bonnie Chan Yi-ting said in an interview last week.

Muyuan traces its roots to a hog farm established in 1995. It recently reported preliminary net income of 14.7 billion yuan ($2.1 billion) to 15.7 billion yuan for 2025.