Feb. 26, 2007 (China Knowledge) – China Agri Holdings, a unit of COFCO International <0506>, has started accepting institutional orders today for its IPO in Hong Kong.

The Mainland's largest agricultural products processor plans to raise up to HK$2.59 billion to expand its agricultural products processing businesses.

COFCO International said that the indicative price range will be between HK$3.10 and HK$3.72, representing between 17.4 times and 20.8 times estimated earnings of HK$622 million last year.

Trading in its shares has been set for March 21. BOC International and Goldman Sachs are arranging the deal.

China Agri trades and processes biofuels and biochemicals, malt, wheat, oilseed and rice.