Post Reply
1-5 of 5
The maker of diesel engines and farming equipment, plans to raise at least $11m in an IPO to expand its business in China and overseas. The company, which sells farm equipment under its 'Dragon Boat' and 'Binhu' brands, wants to offer new shares, or at least 25% of its enlarged share capital, for listing on the mainboard. Its share capital of 180m shares is likely to be incraesed to 240m after the IPO.
It's planning to use $7.5m for investment in additional plant, machinery and production facilities; $2.5m to fund R&D; and $1m to boost marketing network in China and overseas. Overseas sales are currently insignificant, representing < 5% of its total sales for the past 3 financial years.
In 2005, it made a net profit of RMB33.91m on a turnover of RMB236.47m. Its net profit was RMB13.15m and turnover was RMB156.13m in 2004.
| |
http://www.chinadaily.com.cn/bizchina/2006-09/21/content_693867.htm.
Selected logistics firms to receive support
FYI: (Xinhua)
Updated: 2006-09-21 11:23
The Chinese Ministry of Commerce has selected 100 large farm produce logistics firms that will receive government support, as part of the government's bid to build a national logistics network for farm produce.
The 100 companies were chosen by an expert panel from 179 companies recommended by local authorities, the Ministry of Commerce confirmed to Xinhua News Agency on Thursday.
They were selected because of their large turnovers, modern operational methods and sound management, the ministry said.
The government will provide the companies with funds and loan subsidies for building cold chain systems, distribution centers and large wholesale markets.
The ministry said in March it will help build 100 large wholesale markets specializing in farm produce and foster 100 large farm produce trading companies around the country in the next few years.
This will help cut the transaction and transport cost of farm produce, increase farmers' incomes and create more job opportunities in the countryside, the ministry said.
The 100 firms sold 38.4 billion yuan (US$4.8 billion) worth of farm products in 2005, accounting for 68 percent of their total sales.
(For more biz stories, please visit Industry Updates)
IPO. Issue mgr-SAC Capital and it Underwiter-UOB Kay Hian
| Date | Document Type | Document(Click to view/download) | Document Status |
|---|---|---|---|
 01/12/2006 |
Prospectus | ChinaFarm-IPO Lodgement.pdf |
Lodged |