Noble Group, the supplier of energy, food and mining commodities, plans to raise about US$700 million ($889 million) in an initial public offering of its agriculture unit, two people with knowledge of the matter told Bloomberg.
The company hired JPMorgan Chase & Co. as global coordinator and Citigroup Inc. and Goldman Sachs Group Inc. as joint bookrunners for a potential listing, said the people, who declined to be identified because the information is private. The IPO may take place in the first half of next year, they said.
Noble said Oct. 4 that it may spin off its food commodity business and list it in Singapore, where the Hong Kong-based company’s shares already trade. The company did not give further details. Stephen Brown, Noble’s head of investor relations, declined to comment today on the IPO plan.
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