Wilmar saw a bump in its share price today when an article from agricensus noted that the company has obtained an initial green light for the public listing of its agricultural business division in China after mulling the process for two years. Other Chinese publications such as this and this have quoted the news as well. The company’s Shanghai registered agribusiness subsidiary Yihai Kerry Co. Ltd (YKA) has been approved for an initial public offering with a valuation of CNY13.87bn (USD1.96bn) on China’s Shenzhen Stock Exchange. Although the IPO is still awaiting final approval from the exchange’s IPO committee, this is the first time that Chinese regulators have given the green light for the IPO via a Chinese exchange since its first attempt back in 2017. Yihai Kerry, which is often referred directly to as Wilmar in the industry, is one of...