Companies
China Bright Food plans $916m raising
Updated: 2011-04-02 14:33
(Agencies)
HONG KONG - China's Bright Food Group Co plans to raise up to 6 billion yuan ($916 million) as early as this year by selling bonds and listing a unit, a company spokesman said on Saturday, confirimg an earlier Bloomberg report.
|
The company may also list its food assets as a group in Hong Kong in three years, Bloomberg reported, citing Chairman Wang Zongnan, as it seeks to buy overseas companies in industries including sugar, dairy, and food production and distribution.
Bright Food has shown interest in buying overseas assets, though it had limited success with some recent attempts. Last month, it missed buying a 50 percent stake in French yogurt maker Yoplait, an auction which was won by US food group General Mills.
The Shanghai-based company aims to lift revenue from outside China to as much as 30 percent of sales in five years from 5 percent now, the report added.
E-paper
Green mission
Tony blair believes China will take a leading role to fight climate change and cut emissions.
The spring of new professions
Real modern times
F1 sponsors expect returns from Shanghai stop
Specials
Share your China stories!
Foreign readers are invited to share your China stories.
Have you any wool?
The new stars of Chinese animation are edging out old childhood icons like Mickey Mouse and Hello Kitty.
Fill dad's shoes
Daughter and son are beginning to take over the family business of making shoes.