Print
	Email
	Text size
	Comment

Email a friend

Your email address:
Friend's email address:

 

Sunrise Biotech Holding, a producer of organic mulberry-based products in China, has joined PLUS Markets. The admission will give the company the potential to raise funds for its future development.

The company develops and produces mulberry tree-based organic products, such as mulberry tea, mulberry leaf power and tablet for use in food additives and herbal remedies, and mulberry leaf power and granules for use as animal fodder.

The holding company owns Beijing Sunrise, which develops and produces mulberry-based products from three locations in the Yongledian region of Beijing. It also operates from one location in the Hebei region of China.

The group’s production base currently consists of more than 3,100 acres of leased land, which produces an annual mulberry leaf capacity of 24,000 tons. In 2006, the company generated net profits of £1.4 million.

Yonghu Li, chairman, said: “The admission to PLUS Markets represents a significant development for the company, which has the potential to improve its corporate governance and raise funds for future development.

Fisher Corporate plc is the company’s PLUS corporate adviser. The Fisher Corporate team was led by Gary Miller, director, who said: “Our role in the listing was to put together the admission document and submit the company’s application to PLUS. Sunrise Biotech has seen significant growth since it commenced trading and we look forward to following the future performance of our first china-based PLUS company.

“We were introduced to the company by Fortune 500 Capital Group, the company’s financial adviser in Beijing, with whom we hope to complete further transactions in the future,” he added.

Carey Olsen advised Sunrise as a Jersey company on the Channel Island’s legal aspects. The team was led by Mike Jeffrey, a partner in their corporate group, who commented: “We are delighted to have assisted Sunrise in this matter. We see PLUS Markets as an important growth area for us, and this deal demonstrates the advantages of Jersey in these structures.”

Other advisers included corporate finance adviser Fortunes Capital. Steve Wayne, president of Fortunes Capital, said: “Sunrise Biotech is a unique company with great potential for growth, which is one of few companies to advocate mulberry-based food and healthcare products. Sunrise is establishing its leading stand in this market segmentation of China’s biotech industry.”

Comments [0]