Uni-President in talks with HK regulators on listing shares

By Tim Culpan, Bloomberg

Uni-President Enterprises Corp., Taiwan’s biggest processed food maker, said it’s still in talks with regulators to list shares in Hong Kong and has no schedule for an equity offering there.

“We’ve been considering it since two years ago,” Selina Wu, a spokeswoman for Tainan based Uni-President, said by phone yesterday. “We are interested and evaluating the possibility, but have to consult with authorities in Hong Kong and Taiwan.”

Uni-President has applied to list shares of its food and drinks business in Hong Kong this year as a step toward expanding in China, the Shanghai-based China Business News reported on its Web site today, citing Wu Yiting, a general manager of the company’s food division.

Spokeswoman Selina Wu declined to elaborate on which regulators the company is in discussions with, and the nature of the rules it must follow.

The company last year won the right to be the sole supplier of instant noodles to athletes and staff at next year’s Olympic Games in Beijing. The company made its first investment in China in 1992, according to its Web site, with 2006 financial statements showing cumulative investments there of US$342 million.