Australia's biggest livestock exporter Wellard Group is considering an ASX listing.
Street Talk understands investment bank UBS has been introducing Wellard to fund managers this week. Sources said the company would look to raise $200 million to $300 million, with formal marketing expected after reporting season.
Family-owned Wellard is seeking primary capital to fund growth and pay down debt. The company's two largest subsidiaries are Wellard Rural Exports, which is a livestock exporter and ship owner, and Wellard Agri, a mixed farming land owner and operator.
The non-deal roadshow is in Melbourne on Wednesday, after meeting with Sydney-based investors yesterday, and will hit Hong Kong on Monday.
The float is hoping to capitalise on Australia's historic free trade agreement with China, signed late last year. The agreement has red meat producers expecting an $11 billion boost from the abolition of tariffs in the next nine years.
Wellard's run at the ASX boards comes as Australia's largest privately owned beef producer, Consolidated Pastoral Company, seeks a capital partner. Cattle station owner S Kidman has also been put up for sale.
Kidman and CPC are beef producers, while Wellard is integrated livestock operator and trader.
