COFCO International Co., Ltd. (HK0506) made a public announcement on 26 February that her spinned off subsidiary company- China Agri-Industries Holdings Limited-will be listed on main board of Hong Kong Joint Exchange. The indicated offering price range is HK$3.1-HK$3.72.
China Agri-Industries Holdings Limited is the subsidiary company of COFCO International Co., Ltd. Who also belongs to COFCO HK. AS a subsidiary company, the primary business of China Agri-Industries Holdings Limited is agriculture industries including agricultural products producing, processing and distributing.
After listed on Hong Kong Joint Exchange, COFCO International Co., Ltd. and China Agri-Industries Holdings Limited will be sister listed companies. COFCO HK will hold 77.4% of shares and public investors will hold 22.6% in both of them. COFCO International Co., Ltd. will be renamed as China Foods Limited.
The final price for China Agri-Industries Holdings Limited will be decided on 15 March and it will be officially floated on 21 March. The sponsors are Goldman Sachs and BOC China.
