Lonrho moves for Hong Kong listing

Investment firm Lonrho plans to list in Hong Kong by the end of this year.

The 101-year-old Anglo-African conglomerate set out to raise up to £50 million by selling shares to a small group of Asian investment funds before listing in Hong Kong to ensure it had investors ready to trade the shares, chairman David Lenigas said.

"We would hope to list our shares in Hong Kong by the end of this year," Lenigas said, adding that the company was selecting financial advisers.

Lenigas, who joined Lonrho in 2006 and has been rebuilding the company through acquisitions in Africa, said the company wanted a stock market presence in Hong Kong to raise its profile in China.

Lonrho, a pan-African company with a portfolio of investments in agribusiness, infrastructure, hotels, transportation and support services, is in talks with mainland partners regarding future business partnerships.