By Martin Mou

Wilmar International Ltd. is seeking to raise 13.78 billion yuan ($1.95 billion) from an initial public offering of its China operations.

The agribusiness group plans to list its China unit, Yihai Kerry Arawana Holdings Co., on the Shenzhen Stock Exchange's ChiNext Board, according to a prospectus filed to the exchange on Monday.

Wilmar plans to sell up to 542 million shares or 10% of Yihai Kerry.

Write to Martin Mou at martin.mou@wsj.com