WH Group to apply for Hong Kong IPO
by Meat&Poultry Staff
HONG KONG – WH Group Ltd. is seeking nearly $6 billion dollars for an initial public offering on the Hong Kong stock exchange, according to Bloomberg
Several investment banks, including Morgan Stanley and Goldman Sachs Group, are said to be working on the company's share sale as joint sponsors.
Most recently, WH Group, which owns a variety of food and logistics enterprises including Smithfield Foods Inc. and Henan Shuanghui Investment & Development Co. Ltd., China's largest meat processor, has entered into a $8 billion, non-binding strategic cooperation framework agreement with Bank of China. WH Group and its subsidiaries will have the flexibility to use the proposed services and new funding arrangements to invest in operations, fixed assets, international trade initiatives, potential mergers and acquisitions, and other corporate purposes.
Shuanghui International Holdings recently changed its corporate name to WH Group Ltd.