China's winery firm to list on Bursa Malaysia

China's Ouhua Winery Holdings Ltd. plans to list its wine-making business on the Main Board of Bursa Malaysia, making it the fourth Chinese company listing in Malaysia.

In a prospectus exposure on the Securities Commission's website, Ouhua said that it would offer 131 million shares to the public, representing about 19 percent of its enlarged issued and paid-up share capital of 668 million shares.

It said that the listing would help it raise funds to expand its market presence and distribution network.

It will place 123 million shares or 18.4 percent of its share capital to identified investors, said the prospectus.

Based in Yantai, Shandong Province, Ouhua produces and distributes 147 varieties of red and white wines under its flagship Fazenda Ohua Wine and its international wine labels. Its sales totaled 6,400 tons in China last year.

The winery firm recorded a net profit of 114.8 million RMB (some 16.8 million U.S. dollars) for the fiscal year ending December 31, 2008.

Source: Xinhua