Cofco eyes pork IPO amid price surge

The state-owned food processor plans to float shares of its meat operations after Chinese pork prices hit a record high.

Cofco eyes pork IPO amid price surge

Chinese state-owned food conglomerate Cofco Group started gauging market demand for the spinoff of its meat processing business through an initial public offering in Hong Kong last week, paving the way for its private equity backers to monetise their shares.

These private equity firms bought about 45% of Cofco Meat through a consortium for about $270 million in 2014, valuing the company at $600 million at that time.

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