Ingham’s set to list on Australian Stock Exchange

Ingham’s Enterprises Pty. Ltd.–the largest poultry company in Australia and among the top feed producers–will list on the Australian Stock Exchange on November 7.

Katoosha | BigStockPhoto.com
Katoosha | BigStockPhoto.com

Ingham’s Enterprises Pty. Ltd.–the largest poultry company in Australia and among the top feed producers–will list on the Australian Stock Exchange on November 7, reports ABC Online.

Its owners are TPG, a U.S.-based private equity firm, which says it aims to sell between 50 and 70 percent of Ingham’s. At the indicative share price of between AU$3.57 and AUD4.14, the company is valued at AU$1.3 billion to AU$1.5 billion (US$985 million to US$1.14 billion). If these prices are achieved, it would be Australia’s largest share listing of this year.

Ingham’s poultry business started on a small scale in 1918. It expanded and added feed manufacturing, and remained in private hands until 2013, when the business was acquired by TPG. The new owners made several management changes and investments, so that today, Ingham’s is Australia and New Zealand’s largest integrated poultry producer, processing more than four million birds per week, with a workforce of more than 8,000 at 345 facilities across the two countries, according to the company’s website.

The firm ranks second among Australian animal feed producers. Poultry, pig, horse and dairy feeds are manufactured at its eight feed mills.

Earlier this year, Ingham’s announced investments of AU$275 million in its facilities in South Australia, and the closure of a plant in New South Wales.

In July, Ingham’s appointed Peter Bush as chairman-elect, and Mick McMahon was confirmed as CEO, following a period when he held the roles of executive chairman and CEO. One month ago, the company announced the appointment of a new non-executive director.

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