SINGAPORE, Nov 21 (Reuters) - Singapore agribusiness Wilmar Worldwide WLIL.SI hopes to obtain regul
SINGAPORE, Nov 21 (Reuters) – Singapore agribusiness Wilmar Worldwide WLIL.SI hopes to obtain regulatory approval early subsequent yr for the preliminary public providing of its China enterprise, Yihai Kerry Arawana Holdings (YKA), it mentioned on Thursday.
Wilmar, which is valued at greater than $19 billion, had introduced its intention to record the enterprise in 2017, after having shelved plans for a roughly $3-billion itemizing of its Chinese language unit in Hong Kong in 2009.
“Relating to YKA IPO, we’re ready for approval from the Chinese language regulators and we hope to obtain it by early 2020,” Wilmar mentioned in an emailed response to a Reuters question on the IPO standing.
In August, the corporate mentioned it had utilized to record the enterprise on the Shenzhen Inventory Trade. Wilmar counts China, the place it has greater than 300 vegetation and a large advertising and distribution community, as a significant market.
(Reporting by Aradhana Aravindan in Singapore; Enhancing by Clarence Fernandez)
…