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After coffee, Louis Dreyfus to invest in poultry IPO


Commodity giant Louis Dreyfus Company (LDC) is to invest in the stock market flotation of Asian poultry and food company Leong Hup International, adding to a shift down the food chain after it also joined a share offering by China’s Luckin Coffee.

LDC, one of the world’s biggest crop merchants, has said it wants to increase its presence in food processing and has cited regional partnerships as a way to expand.

Malaysia-based Leong Hup International on Thursday launched an initial public offering (IPO) that aims to raise as much as 1.2 billion ringgit ($290.31 million), saying it had secured 10 cornerstone investors, including LDC.

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