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Sino-Agri Union to carry out IPO and raise capital for acetamiprid technical included project construction

In June 2020, Shandong Sino-Agri United Biotechnology Co., Ltd. (Sino-Agri Union) issued the IPO prospectus, with an intention to go listed on the domestic securities market. It plans to issue no more than 27.4 million shares, accounting for 25% of the total figure after this issue.

 

The capital to be raised is intended to invest in the 3,300 t/a insecticide technical project, the 10,000 t/a 2-chloro-5-(chloromethyl) pyridine and 5,000 t/a acetamiprid technical construction project, and to be  supplement to the working capital related to main business.

 

Table 1: Sino-Agri Union’s plan to use raised capital if listed successfully

Item

Capital use, million USD

3,300 t/a Insecticide technical project,

55.2

10,000 t/a 2-Chloro-5-(chloromethyl) pyridine and 5,000 t/a acetamiprid technical project

56.6

Supplement to working capital related to main business

42.3

Total

154.2

Source: Sino-Agri Union

 

Sino-Agri Union is mainly producing environmental-friendly, high-efficacy, and low-toxicity pesticide technical and and their intermediates, such as imidacloprid, acetamiprid, nitenpyram, and pyridaben, and pesticide formulations including insecticides, fungicides, and herbicides.

 

From 2017-2019, Sino-Agri Union made sales of USD158.3 million, USD199.4 million and USD192.9 million, and net profit of USD15.0 million, USD34.4 million and USD20.8 million, respectively. The fall in 2019 net profit was a result of the continued declines in prices of key products. 


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