Stocks News
- China Agri-Industries Holdings Ltd launches IPO in HK
Date: 9-Mar-2007 Sources: (Xinhua Online)
China Agri-Industries Holdings Limited began an initial public offering (IPO) on the Hong Kong stock market on Thursday, according to the State-owned Assets Supervision and Administration Commission (SASAC).
The IPO will last till noon of March 13 and the company will officially begin trading on March 21, SASAC said.
The offering price range is 3.1 to 3.72 HK dollars, and the final price will be decided on March 15.
China Agri-Industries Holdings Ltd. will offer a total of 860.9 million shares in its global offering, including 697.8 million new shares.
The company, a subsidiary of China National Cereals, Oils, Foodstuffs Import, Export Corporation (COFCO) International Ltd, manufactures, processes and circulates agricultural products.
After listing on the Hong Kong Joint Exchange, China Agri-Industries Holdings Limited and COFCO International Co., Ltd. will be sister companies under the COFCO.
COFCO International Co., Ltd. will be renamed China Foods Limited.
Founded in 1952, COFCO is China's leading grain, oils and foodstuffs import and export group and one of its largest food manufacturers.
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