Jiajia Food, the Chinese condiment group, plans to raise up to CNY450m (US$72.63m) through a private placement of shares.
The soy sauce to edible oils company said in a regulatory announcement that the capital raising would allow it to respond to challenges in the sector, which has come under pressure from China's macroeconomic slowdown and "fierce market competition".
Jiajia is investing in increasing production capacity and moving its products up the value chain through "marketing and development" efforts.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData