CHINA: Shuanghui downplays IPO rumours
Shuanghui downplays HK listing
Chinese pork group Shuanghui International has downplayed rumours that it is preparing an IPO following completion of its proposed acquisition of US meat firm Smithfield Foods.
According to a Reuters report, which cited unnamed sources, the company will look to raise around US$4bn by listing on the Hong Kong stock exchange.
The move would reportedly follow completion of Shuanghui's proposed $4.7bn acquisition of Smithfield Foods, which was announced at the end of May.
However, a spokesperson for Shuanghui told just-food that the company remains focused on completing the acquisition and is "not aware" of any plans to list.
"Shuanghui International is focused on completing its acquisition of Smithfield Foods, which we think will benefit the stakeholders of both companies. We are not aware of and we will not speculate about any plan for the combined company to access the equity capital markets," the spokesperson said.
M&A levels remained relatively subdued in 2013. Growing private-equity interest and something of a shift in capital flows to mature markets have been significant trends shaping the M&A landscape. Whil...
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