Asian Citrus
The Company's principal activity is to act as holding company in respect of the Group which is primarily engaged in the research and development plantation and sales of citrus produce in China.
See more information about Asian Citrus
Asian Citrus to list on Hong Kong Stock Exchange on 26 November
China’s largest orange plantation owner Asian Citrus Holdings Limited (AIM: ACHL) said its application for listing on the Hong Kong Stock Exchange was considered by the listing committee, and shares were expected to be admitted to trading in two weeks.
The listing document is expected to be issued on 23 November and
shares in Asian Citrus would start trading on the main board three days
later, which is subject to the Hong Kong Stock Exchange confirming no
further comments on the listing and granting formal listing approval.
“We are pleased that the Hong Kong Listing is progressing
well. We believe that a Hong Kong listing, alongside our London quote,
will enable us to expand our shareholder base as well as improve the
liquidity of the Company's shares,” said Chief Executive of Asian
Citrus Tony Tong.
To comply with the listing regulations, the company will
reorganise the composition of the audit committee and the remuneration
committee as well as redesignate Nicholas Smith from non-executive
director to independent non-executive director.
The company said it was unable to guarantee that the Hong Kong listing would occur.
Asian Citrus is primarily engaged in the research and
development plantation and sales of citrus produce in China, owning two
operational plantations in the Guangzi Zhuang Autonomous Region and the
Jiangxi province.
The Hong Kong listing was proposed in August this year. The
company’s share price on the Alternative Investment Market of the
London Stock Exchange has more than doubled to £3.98 since April.
The company’s full year revenues rose 25% to RMB668.5 million,
while pre-tax profits were up 20.3% to 442.3 million and earnings per
share increased 8% to RMB5.81.
Shares in Asian Citrus added 4% in London on the news this morning.
Other Asian Citrus news
- Asian Citrus submits application to Hong Kong Stock Exchange
2009-10-09 - Asian Citrus surges on on Hong Kong listing plan
2009-08-28
