cofco-spinoff-seeks-hk-listing-to-fund-expansion-plans

Cofco spin-off seeks HK listing to fund expansion plans

The company's move into biofuels drives investor interest in the $332 million IPO. A strategic investor from Japan will take $65 million worth of shares.
China Agri-Industries Holding has kicked off the institutional roadshow for what will be the first Hong Kong IPO by a Mainland state-backed company this year. The listing candidate is looking to raise up to HK$2.6 billion $332 million which will also make it the largest Hong Kong listing so far this year, ahead of China Huiyuan Juice GroupÆs $308 million.

The deal could in fact end up being even larger because of an offer to the shareholders of its Hong Kong-listed sister company to either receive shares in the listing candidate on a one-for-one basis or to get the equivalent amount in cash. If they choose cash, the company, together with Goldman Sachs as...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222