Diageo mulling Hong Kong IPO

The British company that owns Johnnie Walker, Smirnoff and Baileys is considering an IPO in Hong Kong.

Diageo, the world’s largest beverage company, admits to considering a potential listing on the Hong Kong stock exchange as part of its Asian expansion. Diageo has a primary listing on the London Stock Exchange and a secondary listing on the New York Stock Exchange.

CEO Paul Walsh said listing in Hong Kong was something Diageo’s board will do and will continue to consider as it continues its global expansion. He said the company have received some discussion documents regarding a Hong Kong IPO but noted the IPO was not imminent.

Diageo is looking at Asia as it nears its goal of generating 50% of revenues from emerging markets by 2015.

Based in London, Diageo is the world's largest producer of spirits and a major producer of beer and wine. Its brands include Smirnoff (the world's best-selling vodka), Johnnie Walker (the world's best-selling Scotch whisky), Baileys (the world's best-selling liqueur) and Guinness (the world's best-selling stout).

It is also the exclusive international distributor of José Cuervo (the world's best-selling tequila) and owns 34% of Moët Hennessy, which owns brands including Moët & Chandon, Veuve Clicquot and Hennessy.