Trade Resources Company News Shuanghui International Is Seeking to Raise up to $6bn

Shuanghui International Is Seeking to Raise up to $6bn

Shuanghui International, a Chinese food giant, is seeking to raise up to $6bn through an initial public offering (IPO) in Hong Kong in the second quarter of 2014.

The Chinese firm recently acquired US-based hog and pork processor Smithfield Foods in a $4.7bn deal, a the largest ever Chinese takeover of a US company.

It plans to use the proceeds to pay down its debt and provide an exit to its private equity backers.

Shuanghui has appointed Morgan Stanley, BOC International, Citic Securities International, Goldman Sachs Group, UBS and Standard Chartered to lead the IPO, according to the sources familiar with the matter.

If completed, the IPO would be the largest stock offering in the region in the past four years.

Shuanghui International is one-third owned by private equity firm CDH, while other investors, including Goldman Sachs, Temasek and New Horizons, hold small stakes.

Founder and chairman Wan Long owns the remaining share along with staff and senior management.

 

Source: http://meatandseafood.food-business-review.com/news/shuanghui-international-mulls-6bn-ipo-in-hong-kong-071113
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Shuanghui International Mulls $6bn Ipo in Hong Kong