News blog
China Food Company
- BY: Andrew Hore |
- POSTED: 25/11/2009 |
China Food Company says that it has raised enough cash to complete its new 266,666 sq km facility next year.
The soya sauce manufacturer plans to increase production capacity by 50%. The existing factory is running at full capacity. CFC is the ninth largest soya sauce manufacturer in China.
Subscriptions to convertible loan notes total £3m – following the latest subscription of £429,000. CFC will apply for these convertibles to be traded on Plus-quoted.
Shares in CFC rose 3p to 30p each, which values the company at £19.9m. The share price is still down by one-third over the past six months because of tough trading conditions.
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