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08-11-06, 09:08
Gold Cattle Bio gives strategic investors the chase
Nov. 8, 2006 (China Knowledge) – Mainland rancher Xinjiang Gold Cattle Bio is wooing strategic investors for an approximate HK$700 million before launching its IPO so as to maximize capital from the offering as well as to make its IPO more attractive to other investors, sources told the South China Morning Post on Tuesday.
By August, Gold Cattle Bio already had China Everbright and Dutch financial services group ABN Amro as its strategic investors through a private placement, raising US$24 million. Although the size of the stake held by these two investors is not clear, the Post reported that ABN Amro paid US$14 million and China Everbright bought US$4.5 million. The remainder was bought by various fund management companies.
Gold Cattle has already submitted its IPO application to the Hong Kong Stock Exchange and hopes to debut trading either by end of this year or early next year. China Everbright Capital has been appointed to be the underwriter.
Established in 1995, Gold Cattle sells milk and beef and owns more than 12,000 heads of Holstein cattle. It also operates a cloning research centre with Canadian genetics and breeding services firm Alta Genetics, which clones species of cattle and specializes in improving breeding techniques.
Gold Cattle also produces breeding bulls for sale; sperm and cow embryos are also sold by the Xinjiang company.
Gold Cattle is aiming for a net profit of RMB 120 million from sales of RMB 608 million this year. According to the company's website, it hopes to boost net profit to RMB 200 million in 2008 from turnover of RMB 831 million.
Copyright © 2006 www.chinaknowledge.com (http://www.chinaknowledge.com/)
Nov. 8, 2006 (China Knowledge) – Mainland rancher Xinjiang Gold Cattle Bio is wooing strategic investors for an approximate HK$700 million before launching its IPO so as to maximize capital from the offering as well as to make its IPO more attractive to other investors, sources told the South China Morning Post on Tuesday.
By August, Gold Cattle Bio already had China Everbright and Dutch financial services group ABN Amro as its strategic investors through a private placement, raising US$24 million. Although the size of the stake held by these two investors is not clear, the Post reported that ABN Amro paid US$14 million and China Everbright bought US$4.5 million. The remainder was bought by various fund management companies.
Gold Cattle has already submitted its IPO application to the Hong Kong Stock Exchange and hopes to debut trading either by end of this year or early next year. China Everbright Capital has been appointed to be the underwriter.
Established in 1995, Gold Cattle sells milk and beef and owns more than 12,000 heads of Holstein cattle. It also operates a cloning research centre with Canadian genetics and breeding services firm Alta Genetics, which clones species of cattle and specializes in improving breeding techniques.
Gold Cattle also produces breeding bulls for sale; sperm and cow embryos are also sold by the Xinjiang company.
Gold Cattle is aiming for a net profit of RMB 120 million from sales of RMB 608 million this year. According to the company's website, it hopes to boost net profit to RMB 200 million in 2008 from turnover of RMB 831 million.
Copyright © 2006 www.chinaknowledge.com (http://www.chinaknowledge.com/)