March 3, 2012 / 10:54 AM / in 7 years

China COFCO eyes Hong Kong for property unit IPO: exec

BEIJING (Reuters) - China’s top grain trader, COFCO Group CNCOF.UL, will seek to list its commercial property unit in Hong Kong, its chairman told Reuters on Saturday, without clarifying the timing or scale of the offering.

Previously, the company had said it would consider mainland China or Hong Kong for the property unit listing.

Chairman Ning Gaoning, speaking on the sidelines of the opening session of the China People’s Political Consultative Conference (CPPCC), also said COFCO is seeking to list a produce and livestock unit either in mainland China or Hong Kong.

“We are planning on both sides, it depends on which one approves it,” Ning said.

He added that COFCO will continue to focus overseas investments this year on scarce resources.

Reporting by Laura Yin, Su Dan and Lucy Hornby; Editing by Ken Wills

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