Kilcoy Global Foods Plans Hong Kong IPO
January 02 2020 - 8:37PM
Dow Jones News
By P.R.Venkat
Kilcoy Global Foods is planning an initial public offering in
Hong Kong, becoming the latest consumer-goods company looking to
tap the city's active fundraising market.
Kilcoy has appointed Citigroup and CMB International to advise
it on the planned offering, according to an application filed to
the Hong Kong stock exchange late Thursday.
Kilcoy didn't disclose when it is planning to hold the offering
or how much it aims to raise.
The Australia-based company specializes primarily on premium
beef and other high-quality animal-protein products, including
cooked lamb, pork and poultry. Some of its major markets are China,
Japan, the U.S., and South Korea.
Kilcoy's revenue for the nine months ended September came in at
$871.3 million, up from $753.4 million in the same period of
2018.
Investors in Hong Kong are attracted to consumer-related stocks
as they benefit from rising a middle-class incomes. Late last year,
Anheuser-Busch InBev S.A. (ABI.BT) raised close to $6 billion via
an IPO of its Asia business, Budweiser Brewing Co. APAC Ltd.
(1876.HK).
Write to P.R. Venkat at venkat.pr@wsj.com
(END) Dow Jones Newswires
January 02, 2020 20:22 ET (01:22 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
Anheuser Busch Inbev SA NV (NYSE:BUD)
Historical Stock Chart
From Mar 2024 to Apr 2024
Anheuser Busch Inbev SA NV (NYSE:BUD)
Historical Stock Chart
From Apr 2023 to Apr 2024
