Chinese agricultural firm Sino Agro Food announced Wednesday it made "meaningful progress toward the restructuring, carve-out and subsequent spin-off" its aquaculture operations into an independent, publicly traded company.
It completed the legal due diligence of the process, which it said represents a "significant milestone."
The lead advisor for the planned initial public offering of the aquaculture business has accepted all legal opinions.
These include the registration of Aqua Farm 1, Jiangmen City A Power Fishery Development (JFD) as a wholly foreign owned enterprise of Tri-way, its fully-owned subsidiary.
