Ouhua Winery debuts on Malaysian bourse
By 2010-11-18 17:04:51
China Ouhua Winery Holdings Ltd has debuted on the Main Market of Bursa Malaysia with its closing price 9% higher than the issue price of RM 0.66 on the first trading day, sources reported.
The wine maker raised RM 79.53 million by issuing 132.55 million shares in its initial public offering.
Proceeds from the IPO will be used to open franchised stores and to develop distribution network.
Wang Chao, executive director and founder of the company, said it plans to distribute a dividend of at least 35% of its net profit for the financial year ended Dec. 31, 2010.
China Ouhua Winery, which intends to venture into xi'an next year to expand its presence in China, captured a market share of 0.67% in 2006 and subsequently to 1.49% in 2008 in the country, Wang added.
At present, China Ouhua Winery, which has 53 specialty stores in China, aims to open 200 specialty stores by the end of this year.
The wine maker raised RM 79.53 million by issuing 132.55 million shares in its initial public offering.
Proceeds from the IPO will be used to open franchised stores and to develop distribution network.
Wang Chao, executive director and founder of the company, said it plans to distribute a dividend of at least 35% of its net profit for the financial year ended Dec. 31, 2010.
China Ouhua Winery, which intends to venture into xi'an next year to expand its presence in China, captured a market share of 0.67% in 2006 and subsequently to 1.49% in 2008 in the country, Wang added.
At present, China Ouhua Winery, which has 53 specialty stores in China, aims to open 200 specialty stores by the end of this year.
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