November 27, 2003

China-Based Soyfood Manufacturer Celestial NutriFoods Seeks IPO in Singapore

Celestial NutriFoods, a China-based manufacturer of soybean-based food products, said it has lodged its initial public offering (IPO) prospectus with the Monetary Authority of Singapore. Celestial NutriFoods said it plans to list on the main board of the Singapore Exchange.

The IPO, which SBI E2-Capital is handling, is expected to comprise 118 million shares. Pricing and other IPO details will be announced later. Celestial NutriFoods posted a first half to June 2003 net profit of 44.54 million yuan (US$5.38 million) on sales of 130 million in, up from 42.13 million yuan (US$5.09 million) on sales of 116.49 million last year.