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Yangnong investment in glyphosate plant OK’d

The Chinese stockmarket supervisory committee has given Chinese agrochemical company Jiangsu Yangnong Chemical official approval to raise Yuan 450 million ($66 million) via a non-public share issuance of 18 million shares, Chinese media report. The shares will have a minimum value of Yuan 28.61 ($4.20) each ( Agrow No 568, p 2). The capital will be injected into subsidiary Jiangsu Youshi Chemical for the construction of a 30,000 tonnes/year glyphosate herbicide plant. The approval is valid for six months.

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