Friday, January 4, 2019

Forthcoming IPO : China National Tobacco Corp

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China National Tobacco Corp., state owned and the biggest cigarette maker in the world, plans to list its international unit on the Hong Kong stock exchange.

The unit, China Tobacco International Inc., is primarily responsible for procuring overseas tobacco leaf from countries like Brazil and Canada for the cigarette giant, which churns out four of every 10 sticks made in the world. The enterprise accounts for roughly 40% of the world's total consumption of cigarettes, and is the world's largest manufacturer of tobacco products measured by revenues.

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