Hong Kong–based commodities-trading house Noble Group is seeking to spin off its agriculture unit and list it in Singapore this year, The Wall Street Journal reports. The company, which is 15 percent-owned by sovereign wealth fund China Investment Corp., is considering a $700 million initial public offering (IPO) of Noble Agri.

Noble has appointed a consortium of banks to manage the IPO, adds Moneycontrol.com. The selected banks are Citigroup, Goldman Sachs Group and J.P. Morgan.

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