Noposion to invest in pesticide projects
Chinese agrochemical company Noposion Agrochemicals (Shenzhen) plans to invest in a number of pesticide projects on the back of positive first-half figures. The company will issue up to 3,000 shares to no more than ten specific investors at a price of Yuan 17.35/share ($2.54). The company hopes to raise Yuan 538 million ($78.6 million) via the share issue. The money will be invested in a number of projects including: an “environmentally friendly” pesticide formulation production base in south-west China; a 10,000 tonnes/year herbicide plant in Shandong province; and research, development and registration of new pesticide products and formulations.