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BIZCHINA / Top Biz News |
Baixiang Food seeks both domestic and overseas listing(Agencies)
Updated: 2008-02-26 14:50 Zhengzhou-based Baixiang Food Group plans to list on both domestic and overseas bourses, the 21st Century Business Herald reported, citing the company's chairman Yao Zhongliang. Baixiang Food has had talks with Morgan Stanley, Goldman Sachs, ABN AMRO Bank and others regarding the proposed listing, the report said. The company's sales of instant noodles stood at over four billion yuan ($560 million) last year, Yao was quoted as saying. Baixiang Food currently has nine instant noodle production facilities, one flour production facility, one fine dried noodle plant and two flavoring units, among other facilities. The company mainly focuses on Henan, Jilin, Hebei, Shandong, Shanxi, Hunan, Jiangsu, Sichuan and Shaanxi provinces. It will focus on Beijing, Shanghai, Guangzhou and other top rung cities in the next phase, instead of smaller cities, the report said. The company, which was founded in 1989, has total assets of 1.6 billion yuan. |
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