Article: SANYUAN FOODS TO RAISE MONEY FROM NO-PUBLIC SHARE OFFERING


AsiaInfo Services
06-25-2009
Sanyuan Foods to Raise Money from No-public Share Offering

BEIJING, Jun 25, 2009 (SinoCast Daily Business Beat via COMTEX) -- Chinese dairy producer Beijing Sanyuan Foods Co., Ltd. (SHSE: 600429) yesterday announced that it had gotten the green light from the China Securities Regulatory Commission to issue 200 million to 250 million shares, raising CNY 800 million to CNY 1 billion.

Proceeds from the non-public share offering will be used to buy assets of the bankrupt Sanlu Group, the company went out of business due to the melamine-tainted milk scandals last year.

The approval came shortly after the board of the company nodded the company's bid for assets of ...

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