BEIJING, CHINA — COFCO International, a China-based agribusiness giant, is planning a merger of its trading arm with domestic businesses to create a new ag commodity giant ahead of an initial public offering (IPO), Bloomberg reported. 

COFCO has hired banks to help consult on the potential merger, which is expected to be completed this year. Listing possibly in late 2021 or early 2020. Bloomberg noted, the listing could be worth more than $5 billion.