Nissin Foods brews $6.2b local float
by Gloria Song
Japanese cup noodle maker Nissin Foods plans to spin off mainland and Hong Kong business from its Japan business and launch a local listing to raise US$800 million (HK$6.2 billion).
The company will invest 150 billion yen globally before 2020 which includes about 10 billion yen (HK$742 million) in Hong Kong and the mainland.
It also plans to open factories in the mainland and Hong Kong within this year to boost market share.
The projected revenue from China and Hong Kong in 2020 is 53.7 billion yen (HK$4 billion), up 31 percent from figures of 2015.
Source: The Standard