March 6, 2012

COFCO seeks Hong Kong for property unit offering

COFCO Group CNCOF.UL is planning to list its commercial property unit in Hong Kong, its chairman said, 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.