21/07/2009 (China Knowledge) - Singapore-based Wilmar International Ltd, the world's largest listed palm oil firm, plans to list its China operations in Hong Kong in the first half of next year, said unnamed sources, the South China Morning Post reported on Monday.

The company plans to raise between US$3 billion and US$4 billion via the initial public offering, which will be one of the biggest so far this year in Asia.

The sources said that Wilmar has asked its three financial advisors, Goldman Sachs Group Inc, Morgan Stanley and BOC International Holdings Ltd, to prepare for the new share offering.

Wilmar announced in May that it was studying the possibility of floating 20% to 30% of its China business in Hong Kong or Shanghai.

Wilmar also said sales in China accounted for about 50% of the firm's total sales, bringing in around US$600 million in profit and US$14.3 billion in revenue in 2008.