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Leong Hup chasing growth with planned IPO

LEONG HUP INTERNATIONAL (LHI), a Malaysian poultry and agrifood giant, is hoping to raise as much as $290m in an IPO listing set for 16 May.

It would represent the largest public offering on the Kuala Lumpur stock exchange for two years, and a number of domestic institutional investors have confirmed interest in the listing.

And global agricultural merchant Louis Dreyfus Company has confirmed a “cornerstone” investment in the business.

Ian McIntoch, the firm’s chief executive said the investment was in line with the business’s strategy to “diversify further downstream and strengthen our footprint in growth markets by partnering with key players in the feed, food and nutrition value chain”.

Established in 1978, LHI is seeking to list all of its shares on Bursa Malaysia. A leading “pure-play” poultry producer, it has developed an integrated livestock and feed milling model, with activities in Malaysia, Singapore, Indonesia, Vietnam and the Philippines.

It hopes to grow its integrated model of production in newer markets.