Chinese Pork Producer Planning Giant IPO
The world's largest hog processor, Shuanghui International Holdings, is planning an IPO of up to $6 billion in Hong Kong. Shuanghui made headlines earlier this year by buying America's biggest pork products maker, Smithfield Foods, for $4.7 billion.
Analysts think that Shuanghui needs the money to repay Chinese private equity firm CDH, which financed the Smithfield buyout. The IPO will make Shuanghui an international foods company, analyst Anson Chan told The South China Morning Post.
There's no word on when the Shuanghui IPO will take place but the company is lining up investment banks, such Morgan Stanley (NYSE: MS) and Goldman Sachs (NYSE: GS), to handle it. The IPO would be the biggest in Asia since insurer AIA Group (HK: 1299) went public in 2010.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.