Wilmar eyes regulators' nod for China IPO in early 2020
[SINGAPORE] Singapore agribusiness Wilmar International hopes to receive regulatory approval early next year for the initial public offering of its China business, Yihai Kerry Arawana Holdings (YKA), it said on Thursday.
Wilmar, which is valued at more than US$19 billion, had announced its intention to list the business in 2017, after having shelved plans for a roughly US$3 billion listing of its Chinese unit in Hong Kong in 2009.
"Regarding YKA IPO, we are waiting for approval from the Chinese regulators and we hope to receive it by early 2020," Wilmar said in an emailed response to a Reuters query on the IPO status.
In August, the company said it had applied to list the business on the Shenzhen Stock Exchange. Wilmar counts China, where it has more than 300 plants and a wide marketing and distribution network, as a major market.
REUTERS
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Gazelle Ventures makes cash offer for No Signboard shares at S$0.0021 apiece
Singapore shares open higher on Friday; STI up 0.2%
TSMC estimates losses of US$92.4 million due to Taiwan earthquake
Singapore loses ‘world’s best airport’ crown to Qatar
Higher gross rental income, lower expenses boost CICT’s Q1 NPI by 6.3% to S$293.7 million
Stocks to watch: CICT, Seatrium, Keppel DC Reit, UOB