Agri giant COFCO plans assets listing

COFCO Corp, China's largest grain trader, plans a public listing of some of its assets, including a majority stake in Noble Group Ltd's agribusiness unit that it bought this year for $1.5 billion.

The proposed spinoff highlights COFCO's efforts to become a global agricultural producer and distributor, complementing its role as the State-run food supplier for the world's biggest consumer of rice, soybeans and wheat.

The listing could take about three years, according to Chairman Frank Ning, and in the meantime no more major acquisitions are planned "any time soon", he said.