October 28, 2015
Adisseo lists on Shanghai Stock Exchange
Adisseo, one of the main subsidiaries of China National Bluestar (Bluestar), is now quoted on the Shanghai Stock Exchange.
This follows the restructuring of the capital of Bluestar New Chemical Material Co. Ltd (BNCM), a listed vehicle that is also part of Bluestar. Thanks to a simultaneous asset exchange whereby Adisseo replaces BNCM''s existing assets, Adisseo is now in a better position to access Chinese capital markets to finance its development projects.
"This unprecedented public listing in Shanghai is the recognition of Adisseo''s excellent performance and a wonderful opportunity to achieve our long-term objective of firmly establishing Adisseo as a key player in the Health & Nutrition segment," says Jean-Marc Dublanc, general manager of the newly listed company.
The group is currently listed as BNCM with ticker symbol 600299. The legal entity will be called Bluestar Adisseo Company. About 90% of the company is still owned by Bluestar with the float owned by minority shareholders.
"We are delighted to have such a financially-healthy, international company as Adisseo in our portfolio and now listed on the Shanghai Stock Exchange," confirms Ren Jianxin, the chairman of China Bluestar. "Adisseo has achieved profitable growth since we acquired the business in 2006 to become one of the world''s top leading manufacturers of nutritional solutions for animals present on five continents."
Future proceeds will also enable Adisseo to continue to invest strongly in research and development in addition to the optimisation of the performance and sustainability of its production platforms, and, to finance its external growth that will complement its organic development.