CHINA: Shuanghui silent on IPO rumours
Shuanghui International has remained silent on fresh reports the company is preparing to list in Hong Kong when it has completed its integration of Smithfield Foods.
The Chinese group, which acquired US pork processor Smithfield last year, is reportedly planning to raise US$6bn through an IPO. Citing "market sources", reports have claimed Shuanghui intents to submit an application to the HKEX this month.
A spokesperson for the company told just-food that Shuanghui is not revealing its plans for the combined entity when integration of the two pork processing giants is complete.
"The integration of Smithfield and Shuanghui is ongoing and proceeding well. We will not speculate about any plan for the combined company to access the equity capital markets," the spokesperson commented.
Smithfield Foods, the US pork producer owned by China's WH Group, reported a leap in third-quarter earnings on higher meat prices and increased packaged sales....
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