China’s largest food processing, manufacturer and trader, is set to combine its listed subsidiaries into two major listed groups over the next few years, the company’s chairman Ning Gaoning said on Thursday.
“We’ve been seeking the opportunity and mulling the possibility of COFCO’s overall listing, but it’s not an easy task,” he said on the sidelines of the ongoing 18th National Congress of the Communist Party of China.
“It’s difficult for COFCO to be listed as a whole group because of our diversified businesses,” Ning said.
Ning said that in the future, COFCO will likely have two major listed groups, which will engage in the company’s different key businesses.
The company now owns seven listed subsidiaries including China Agri-Industries Holdings Ltd and China Foods Ltd.
Source: China Daily Nov 2012