Chinese food giant Bright Food Group is reportedly planning to list its Australian unit, Manassen Foods, this year.

According to Reuters, the IPO would be part of an overall strategy with the company targeting having around half of its assets listed by 2018, up from around 20% at present.

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Bright did not respond to a request for comment.

It owns a number of overseas businesses, including Australia’s Mundella Foods and Weetabix in the UK. Last year, Bright said it would buy a 56% stake in Israeli food firm Israel’s Tnuva and a majority stake in Italy’s Salov.

Bright has four listed subsidiaries in China, including Bright Dairy, Shanghai Jinfeng Wine Co., Shanghai Haibo Co. and Shanghai Maling Aquarius Co.

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