Minzhong IPO by 'year-end'

Fujian Minzhong Organic Food, a leading vegetable and food processor in China, plans to list on the Singapore Stock Exchange by end-2009 or early next year, company sources told China Daily.

Minzhong, whose majority shares are held by Government of Singapore Investment Corporation (GIC) and US private equity firm Olympus Capital, plans to raise between $100 million and $150 million from the initial public offering (IPO), the sources said.

"We planned for the IPO a few years ago, and now all the procedures are underway," the sources told China Daily.