Skip to Content
Global News Select

Wilmar International Secures Strategic Investors for IPO of China Unit

   By Ben Otto 

Agribusiness giant Wilmar International Ltd. has secured strategic investors including state-owned funds and sovereign-wealth funds for an initial public offering of its China unit that could raise up to $2 billion.

Wilmar said Wednesday in a stock-exchange filing that the unit, Yihai Kerry Arawana Holdings Co., also received commitments from insurance companies to subscribe to shares. Altogether, the strategic investors will subscribe for about 30% of the IPO shares, Wilmar said.

Wilmar said it intends to list the unit in mid-October on the ChiNext board of the Shenzhen Stock Exchange, subject to market conditions.

Wilmar, which previously said it aims to raise as much as 13.78 billion yuan ($2.03 billion) in the offering, also said Wednesday that the unit received final registration approval from the China Securities Regulatory Commission for the listing.


Write to Ben Otto at


(END) Dow Jones Newswires

September 16, 2020 06:04 ET (10:04 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.