China’s Biggest Pig Producer Eyes Landmark IPO
China’s Top Pig Breeder Muyuan Targets $13.7bn via Hong Kong Listing
China’s largest pig breeder, Muyuan Foods, is seeking to raise up to US$13.7 billion through a planned Hong Kong stock market listing, underlining renewed investor interest in China’s pork sector after years of volatility.
According to Reuters, the fundraising would rank among the largest Hong Kong listings in recent years and reflects confidence in Muyuan’s scale, efficiency and recovery following the disruption caused by African swine fever and price cycles.
Muyuan has grown rapidly into China’s dominant industrial pig producer, operating highly integrated farming systems that combine breeding, feed, slaughter and disease control. The company has been a major beneficiary of industry consolidation, as smaller producers exited the market during downturns.
Analysts say the listing will provide Muyuan with capital to strengthen biosecurity, expand capacity and manage debt, while positioning the company to benefit from China’s ongoing push for large-scale, technologically advanced livestock production.
The move comes as China’s pork industry shows signs of stabilisation, with production recovering and consumer demand shifting toward higher-quality and differentiated pork products. While margins remain sensitive to price swings, leading producers with scale and cost control are increasingly seen as better placed to weather future cycles.
Source: Reuters | 28 January 2026
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