Jurisdiction - Singapore
Singapore – Duane Morris & Selvam Advises Garden Fresh (HK) Ltd On Issue of CNY270m Convertible Bonds.

4 June, 2012



Duane Morris & Selvam LLP acted for Garden Fresh (HK) Fruit & Vegetable Beverage Co., Limited, indirect wholly-owned subsidiary of Sino Grandness Food Industry Group Limited (listed on the Main Board of the Singapore Stock Exchange), on its recent issue of CNY270m zero coupon rate convertible bonds. The majority of the bonds were taken up by Goldman Sachs Investments Holdings (Asia) Limited.
The primary objective of the issue was to finance the company’s beverage business activities in the People’s Republic of China, including working capital, capital expenditure, mergers and acquisitions and operating expenses. Sino Grandness manufactures and distributes bottled juices and canned fruits and vegetables world-wide. It has a market cap of SGD 105 (USD 84m) and revenues of CNY1bn (USD 158m).
Duane Morris & Selvam LLP, led by Lo Kim Seng, Director and Dexter Hou, Associate,  worked in collaboration with Hong Kong-based law firm, J.S. Gale & Co, in advising on the transaction.
For further information, please contact:
Shaheedah Ibrahim, Duane Morris & Selvam 
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