China Agri-Industries plans rights issue

The agribusiness and food processing company seeks to raise up to $579 million at a 26% discount to Terp.

China Agri-Industries plans rights issue
China Agri is a leading producer of wheat, oilseed and rice

China Agri-Industries, an agribusiness and food processing company, is planning to raise up to HK$4.49 billion $579 million from a rights issue. It will use the money to pay for the possible redemption of a convertible bond and as general working capital.

The company, which is a member of the Cofco Group, processes and sells oilseeds, biochemical and biofuel, rice, wheat and brewing materials. Cofco is the biggest supplier of diversified products and services...

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