Wilmar eyes approval for China IPO bid in 2020

They are still awaiting approval from Chinese regulators.

Reuters reports that agribusiness Wilmar International is hoping to receive regulatory approval early next year for the initial public offering (IPO) of its China business, Yihai Kerry Arawana Holdings (YKA).

“Regarding YKA IPO, we are waiting for approval from the Chinese regulators and we hope to receive it by early 2020,” Wilmar said in an emailed response to a Reuters query on the IPO status.

YKA is reportedly one of the largest agribusiness and food processing companies in China. The China Securities Regulatory Commission (CSRC) accepted YKA’s application for its proposed listing on the Shenzhen Stock Exchange last July.

The $25.88b-valued company first announced its intention to list the business in 2017.

The proposed listing stands to become the largest listed vegetable oil and food ingredient producer in terms of market capitalisation with US$12b-13b at its initial public offering (IPO), according to UOB Kay Hian.

Here’s more from Reuters.