Bright Food, the Chinese state-controlled group which is shopping for overseas food brands, says it is considering an initial public offering for Weetabix, its recently acquired UK breakfast brand.
Bright will consider a listing for the breakfast cereal maker in Hong Kong, the UK or US, said spokesman Pan Jianjun. Bright acquired a 60 per cent stake in the cereal maker last year, valuing it at the time at about £1.2bn.
Mr Pan said there was no timetable for the IPO, and no bankers had yet been appointed to advise on it. Weetabix would be listed “when it’s ready”, he said.
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