Sino Agro has completed stage 1 Hong Kong and China legal and commercial documents related to the transfer of aquaculture assets into its Hong Kong based Tri-Way Industries subsidiary, in preparation for its carve-out and subsequent IPO.
The aquaculture assets include prawn farms 1 through 4 of the Zhongshan Aquaculture MegaFarm, and the Zhongshan A Power Prawn Culture Farms Development Co., Ltd. (“ZSAPP”), which operate a hatchery and nursery for prawns and shrimp.
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