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FINANCIAL NEWS
Sudan- Kenana eyes Hong Kong IPO
19 Mar 2012
(MENAFN) Mohamed El Mardi, Managing Director of the Sudan-based sugar company, Kenana, said that the company is planning an Initial Public Offering in Hong Kong that would raise USD200 million, reported Reuters.
The IPO comes as the company plans to increase its annual production capacity by over a million tons.
The director noted that Hong Kong was a logical place to list Kenana because of growing Chinese investor interest in Sudan’s agricultural sector.
It is worth mentioning that Kenana is now owned mostly by Kuwait, Saudi Arabia and Sudan.
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