May 8, 2008

China's Shandong Minhe to build top poultry breeding brand

Shandong Minhe Animal Husbandry will build the leading brand of poultry breeding in China, company chairman and general manager Sun Ximin said.

The Shandong-based company presently covers 2,374.49 mu land for chicken breeding and leases 1,915.47 mu land for epidemic prevention.

On May 5, the Shandong Minhe started a road show for its initial public offering on the Shenzhen Stock Exchange.

The Chinese company plans to issue 27 million A-shares at RMB10.61 (US$1.52) a share, with about 80 percent for retail investors.

It will use a part of the raised capital for the expansion of its chicken seedling production scale, which is expected to boost the production capacity by about 80 percent and net profit by nearly 100 percent.