Chinese Food Company Plans for Dual Listing in Hong Kong

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Last updated at: (Beijing Time) Thursday, April 18, 2002

Chinese Food Company Plans for Dual Listing in Hong Kong

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The People's Food Holding Limited (PFood), a leading producer of fresh and frozen meat and processed meat products in China and a company that was listed on the main board of the Singapore Exchange, has announced that it is studying the possibility of applying for a dual listing in Hong Kong.

At a press conference Wednesday, the company's chairman Ming Kam Sing said it had signed an agreement with CLSA Equity Capital Markets Limited and UOB Asia(Hong Kong), a member of the United Overseas Bank Group of Singapore, to seek a primary listing on the main board of the Stock Exchange in Hong Kong.

No new shares will be issued and 50 million shares will be transferred to the register in Hong Kong for the purpose of the listing, he said.

The proposed listing in Hong Kong is designed to enhance shareholders' value as well as the company's international exposure, he added.

The group made a profit of over 135 million Singapore dollars (about 72.4 million U.S. dollars) last year and is optimistic about achieving better growth this year.

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