HÀ NỘI — Thailand's largest meat producer, Charoen Pokphand Foods Plc. (CPF), is accelerating preparations for an initial public offering (IPO) and major stock listing in Việt Nam.

CPF CEO Prasit Boondoungprasert told media that the company would begin the IPO process as soon as it received approval from Vietnamese authorities.

“Việt Nam will be our biggest growth driver for many years to come with its strong economic growth and large population. Listing in Việt Nam will provide us with new sources of financing and also build our recognition in Việt Nam,” Prasit said.

According to CPF statistics, Việt Nam is the company's largest overseas market, with a value of about 122 billion baht (US$3.5 billion), accounting for a market share of about 21 per cent. China ranks second with a contribution of about 6 per cent.

CPF has been stepping up its investment in feed, farm and food facilities worldwide amid slowing growth and an ageing population in Thailand. The company is currently operating in 18 markets including the US, Brazil, Russia and China.

In 2024, the firm posted a profit of 19.6 billion baht ($576 million), after reporting a net loss of 5.21 billion baht ($153 million) a year earlier, helped by a recovery in its pork business in Việt Nam and China.

CPF expects total revenue to grow up to 8 per cent in 2025 and also forecasts higher profits this year, thanks to improved earnings from overseas operations, especially in Việt Nam and China. — VNS