January 15, 2016


Sino Agro Food permitted to trade on Oslo Bors' Merkur Market

 

 

With its common shares now allowed for trading in the world's top aquaculture venue, the company can expect a stronger presence in Europe and increased investments from the region.


Sino Agro Food, Inc., a diversified agriculture technology and organic food company, had recently announced an approval for trading of the company's common shares on the Oslo Bors' Merkur Market.


Trading has commenced on January 13, 2016 under the symbol "SIAF-ME".


The company's common shares will continue to be traded on the OTCQB under the symbol "SIAF."


The decision reflects the Sino Agro Food's desire for shares to be listed on the world's leading aquaculture listing venue as well as providing its European shareholder base with a more suitable platform for trading.


"In light of our strategic focus to streamline the company and to list aquaculture assets on Oslo Bors, we believe that the Oslo Bors' Merkur Market is the most suitable venue for Sino Agro Food, Inc.," said Solomon Lee, CEO of Sino Agro Food. "Our goal is to facilitate access to Sino Agro Food for additional European investors who seek exposure to the growing Chinese seafood and protein food sector."


"This admission to trading raises Sino Agro Food's profile to European institutions, and provides a more accessible trading venue for our substantial Nordic shareholder base. We also look forward to welcoming many new shareholders, as Norway hosts the world's largest financial seafood cluster," Lee added.


No new shares are to be issued in connection with the admission to trading.


Current shareholders will be able to convert their shares traded on the OTCQB in the US to shares traded on the Merkur Market through their account operator.
 
 

 
Shares on the Oslo Bors' Merkur Market will be traded and settled in Norwegian Krone ("NOK"). In conjunction with the admission to trading on the Merkur Market, Swedbank Norway acts as the financial advisor to Sino Agro Food, and Wikborg-Rein & Co. Advokatfirma DA serves as the Norwegian legal advisor.


Last year, Sino Agro Food explored various opportunities for a spin-off including a separate listing on the Oslo Bors for a new aquaculture company. The OSE has more than 15 listed companies in the seafood sector, with a combined market capitalisation of more than NOK150 billion (US$17.4 billion).


Sino Agro Food intends to distribute a majority of its holdings - in the new organisation - to its shareholders as a result of the spin-off which represents the first of its four planned divestitures.


"The company has received feedback from its current institutional investors and major retail shareholders, as well as advisors, that restructuring our businesses as stand-alone organisations will create better understanding with our shareholders as well as bringing more value," said Lee. "A separate listing of our aquaculture operations carries the additional advantage of facilitating a listing in Norway; a natural market for making our aquaculture opportunities known."

 

For some time, Sino Agro Food had sought a listing in the Nordic region to facilitate trading of its shares closer to its largest shareholder base.


The company's recent focus was to achieve a senior listing of the entire SIAF Group on the OSE. This process was in motion since May 2015.
 
 
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