SINGAPORE (Nov 7): QAF, the multi-industry food company, has decided to put on hold the flotation of the group’s primary production business, citing current market conditions.

The proposed listing on the Australian Securities Exchange was to involve an initial public offering (IPO) of shares in QAF’s wholly-owned subsidiary Hamsdale Australia, to be renamed Rivalea.

“The board wishes to update shareholders that after discussions between Rivalea and its financial advisor, Morgans Corporate, the proposed listing will be put on hold given, inter alia, current market conditions,” says QAF in a filing.

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