Lonrho, the 101-year-old Anglo-African conglomerate formerly spearheaded by controversial tycoon Tiny Rowland, is gearing up for a Hong Kong initial public offering.
The old 'London and Rhodesian' dominated African trade between the 1960s and early 1990s but shrivelled to a cash shell after embarking on a major asset sell-off shortly before Rowland's death in 1998.
Australian entrepreneur David Lenigas became Lonrho's chairman in 2006, when it owned nothing of Rowland's former massive empire except a hotel in Mozambique, and has since snapped up a new portfolio of companies in Africa.
Lonrho chief executive Geoffrey White (pictured) said the company, now valued at GBP115 million (HK$1.35 billion) on London's junior AIM exchange, would list on the main London market and another major international bourse as part of its bid to regain its former glory.
'We want to move to the London Stock Exchange and are reviewing options for at least one other market. Though the plans are early stage, we are looking closely at Hong Kong,' White said.
Since Lenigas joined, Lonrho has bought stakes in an African food processing firm, a port, hotels, a builder, a water company and an IT services firm, as well as aircraft.