July 13, 2016

Sino Agro Food updates aquaculture carve-out progress

Sino Agro Food, Inc. has announced the completion of all Stage 1 Hong Kong and China legal and commercial documents related to the transfer of aquaculture assets to its Hong Kong based Tri-Way Industries subsidiary, in preparation for its carve-out and subsequent IPO.

The assets include Prawn Farms 1 through 4 of the Zhongshan Aquaculture MegaFarm, and the Zhongshan A Power Prawn Culture Farms Development Co., Ltd. (ZSAPP), which operate a hatchery and nursery for prawns and shrimp.

In the interim, the company has made significant inroads toward securing debt financing for working capital for the Tri-Way project.