Chinese vegetable processor China Minzhong today (14 April) claimed it had received an “overwhelming response” from investors after it closed its IPO in Singapore.
Shares in China Minzhong will start trading on the Singapore Stock Exchange tomorrow (15 April) after the company’s S$237m (US$172.5m) listing won backing from the market.
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The company said it had placed over 197.3m shares at S$1.20 and had secured “strong interest” from institutional investors.
CEO and executive director Lin Guo Rong said: The level of interest shown by the public as well as institutional investors is a signal of their confidence in the strong growth potential of China Minzhong.
“We firmly believe that our established track record and business model, diversified portfolio and geographical operations as well as global customer base position us well for further growth ahead. With our expansion strategies in place, we are well poised to take advantage of the increasing demand for vegetables both globally and domestically.”
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