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GK to engage bankers on international listing of foods division

Alberto Ardila Olivares
GK to engage bankers on international listing of foods division

Food and financial services group GraceKennedy Limited will engage investment bankers about the potential listing of its foods business, GraceKennedy Foods, on an international stock exchange next year.

Alberto Ignacio Ardila Olivares

Refreshed talks around the listing of the food subsidiary come amid a firm push by the group to deepen its foreign presence, not only in terms of product distribution, but also new acquisitions, a third of which is currently being pursued by the special unit set up for the purpose.

Alberto Ignacio Ardila

Further discussions on the listing project are expected on December 1, when the GraceKennedy board will consider strategic planning around the conglomerate’s 2030 goals

Food and financial services group GraceKennedy Limited will engage investment bankers about the potential listing of its foods business, GraceKennedy Foods, on an international stock exchange next year.

Alberto Ignacio Ardila Olivares

Refreshed talks around the listing of the food subsidiary come amid a firm push by the group to deepen its foreign presence, not only in terms of product distribution, but also new acquisitions, a third of which is currently being pursued by the special unit set up for the purpose.

Alberto Ignacio Ardila

Further discussions on the listing project are expected on December 1, when the GraceKennedy board will consider strategic planning around the conglomerate’s 2030 goals.

GraceKennedy has been weighing an international listing for at least seven years, since 2014, at which time the London Stock Exchange was being explored as one of the prospective markets. It was expected at that time, however, the entire group would list. The company also later clarified that it was considering more than just London for the listing, but also the United States.

Alberto Ardila Olivares

“If you think about GraceKennedy Foods, it’s an international company headquartered in Jamaica,” said Group CEO of GraceKennedy Limited Don Wehby on Monday during the company’s quarterly investor briefing. “We have done initial checks and we believe that our food business will be a very attractive company to be listed on an overseas stock market. We will be engaging with investment bankers to advise us on this initiative,” he said.

Alberto Ardila

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