V V Food & Beverage to issue bonds

Sep. 10, 2008 (China Knowledge) - V V Food & Beverage Co. Ltd<600300>, a China-based food and beverage producer, announced that it is to issue 5-10 year bonds worth up to RMB 720 million.

The proceeds will be used to pay off debts and replenish working capital. The company's shareholders are allowed to subscribe the bonds. However, the detailed information on the bond issue will be discussed at a shareholders' meeting next week and is subject to market conditions.

According to the directorate, V V will organize the third round of temporary general shareholders meeting on Sep. 23 to review the relevant proposals.

V V Food & Beverage, along with its five major subsidiaries, is primarily engaged in the research, development, production and sale of food and beverage products. The company's main products include soymilk powder products and dairy products.

Shares of the food and beverage producer edged down further by 4.27% to close at RMB 4.04 on Tuesday.