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Jan. 2, 2020, 8:16 p.m. EST

Kilcoy Global Foods planning Hong Kong IPO

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By MarketWatch









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

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