Chinese health food company Natural Food International Holding Limited plans to secure a maximum of about 884.1 million Hong Kong dollars ($113 million) through a global offering.
Natural Food will offer a total of 421 million shares under the offering, of which 378.9 million shares, or 90 percent, subject to reallocation, will be offered via an international offering while the remaining 10 percent, or 42.1 million shares, subject to reallocation, will be offered under the Hong Kong public offering.
The offer price per offer share is predicted to be not less than $0.12 and not more than $0.27. Natural Food International plans to use these net proceeds to advance its integrated distribution platform and improve its channel mix.
The company will also use the funds for the building of its new Nansha Manufacturing Facility in Guangzhou, Guangdong Province and the acquisition of machinery and equipment for this planned processing facility and for its working capital and general corporate purposes.