Business

Thailand's largest meat producer to launch IPO in Vietnam

CPF CEO Prasit Boondoungprasert told media that the company would begin the IPO process as soon as it received approval from Vietnamese authorities.

CP Foods CEO Prasit Boondoungprasert. (Photo:vietstock.vn)
CP Foods CEO Prasit Boondoungprasert. (Photo:vietstock.vn)

Hanoi (VNS/VNA) - Thailand's largest meat producer, Charoen Pokphand Foods Plc. (CPF), is accelerating preparations for an initial public offering (IPO) and major stock listing in Vietnam.

CPF CEO Prasit Boondoungprasert told media that the company would begin the IPO process as soon as it received approval from Vietnamese authorities.

“Vietnam will be our biggest growth driver for many years to come with its strong economic growth and large population. Listing in Vietnam will provide us with new sources of financing and also build our recognition in Vietnam,” Prasit said.

According to CPF statistics, Vietnam is the company's largest overseas market, with a value of about 122 billion THB (3.5 billion USD), accounting for a market share of about 21%. China ranks second with a contribution of about 6%.

CPF has been stepping up its investment in feed, farm and food facilities worldwide amid slowing growth and an ageing population in Thailand. The company is currently operating in 18 markets including the US, Brazil, Russia and China.

In 2024, the firm posted a profit of 19.6 billion THB (576 million USD), after reporting a net loss of 5.21 billion THB (153 million USD) a year earlier, helped by a recovery in its pork business in Vietnam and China.

CPF expects total revenue to grow up to 8% in 2025 and also forecasts higher profits this year, thanks to improved earnings from overseas operations, especially in Vietnam and China./.

VNA
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