Feb. 22, 2007 (China Knowledge) – China Agri-Industries Holdings, the largest processor of crops in the Mainland, aims to raise as much as HK$2.7 billion with a listing on the Hong Kong Stock Exchange.

The company, a unit of Hong Kong-listed Cofco International, planned to sell 697 million new shares at between HK$2.78 and HK$3.90 per share, which represents 10.7 to 18 times its forecast earnings for next year and 2.2 to three times its book value, sources told the South China Morning Post.

Institutional investors can begin to subscribe to the IPO from Monday. The company’s trading debut on the Hong Kong Stock Exchange main board is scheduled on March 21.

BOC International and Goldman Sachs are handling the deal.